Perdagangan ilegal di blockchain melewati 154 miliar dolar AS: stablecoin menjadi alat utama, rekor diperkirakan akan tercapai pada 2025

【Blockchain Jingdong】Chainalysis, an on-chain data tracking agency, released a research report that provides the market with some signals that deserve serious attention. In just the beginning of 2025, illegal cryptocurrency transaction volume has already surged to $154 billion, more than doubling compared to last year—a year-on-year growth of 162%. What is the most eye-catching change? Funds received by sanctioned entities skyrocketed 694%, indicating that crypto channels in cross-border payments are being utilized more widely.

What’s even more noteworthy is that stablecoins are becoming the primary tool for illegal transactions. According to the data, stablecoins have already accounted for 84% of all illegal transaction volume, becoming the absolute dominant force. The report also mentions that illegal organizations have now established a mature on-chain infrastructure system to help transnational criminal networks obtain goods and launder illegal proceeds, with the entire ecosystem becoming increasingly professionalized.

Interestingly, even though this surge is mainly driven by the growth in funds from sanctioned entities, if that portion returns to historical levels, 2025’s illegal crypto transaction data would still break records, because activity volumes in most other criminal categories are also rising. In other words, this is not just an anomaly in a certain sector, but rather an overall situation that is expanding.