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- Crypto crime transactions fell to 0.14% in 2024, but total illicit activity reached $40 billion, says Chainalysis.
- Stolen cryptocurrency surged 21% YoY to $2.2 billion, with 43.8% lost due to compromised private keys.
- Criminals are professionalizing, using platforms like Huione Guarantee to facilitate scams, laundering, and sanction evasion.
The share of cryptocurrency transaction volume linked to illicit activities fell sharply in 2024, declining from 0.61% to 0.14%. However, according to Chainalysis’ latest 2025 Crypto Crime report, cybercriminals had one of their most profitable years, with scams and other illegal activities continuing to thrive.
According to a study done in 2024 by Chainalysis, the overall cryptocurrency connected with criminal activities amounted to $40 billion. This figure could rise to nearly $51 billion, as the report focuses solely on transfers to identified illicit addresses and stolen funds from known hacks in history. In the previous year, criminals moved approximately $46.1 billion in cryptocurrency.
Stolen Funds and Scams Remain a Growing Concern
The report highlights that stolen cryptocurrency remains a significant and growing problem. The amount stolen in 2024 surged by 21% year-over-year, reaching $2.2 billion. Additionally, account thefts and manipulation of transaction protocols contribute to 43.8% of the stolen funds and are significant tools hackers use.
While the use of cryptocurrency for darknet markets and fraud shops has reduced, overall activity in the sector is now more evolved. New platforms are appearing increasingly, and the threats are becoming more efficient.
Huione Guarantee, an online marketplace allegedly linked to various illicit activities, is a key example of this trend. According to news reports, it provides services like selling fake technologies, money laundering services for stolen bitcoins, helping users avoid sanctioned countries, and supporting illegal online gambling in Asia.
The Evolving Landscape of Crypto Crime
The crypto crime ecosystem is diversifying, with criminals employing advanced tactics to evade law enforcement. Chainalysis’ report underscores the professionalization of illicit activities, making it increasingly difficult to track and shut down illegal operations.
Authorities and businesses specializing in preventing fraud have made progress in shrinking the proportion of such actions to total crypto operations, but criminals are learning from the setbacks. The fight between enforcement agencies and digital asset criminals persists as governments crack down on unlawful activities in the emerging field.
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