TechFlow news, January 15 — According to The Block, blockchain analytics firm Chainalysis released its latest 2025 Crypto Crime Report revealing that stablecoins continued to dominate illegal crypto transactions in 2024, accounting for 63% of such activity. Since 2022, stablecoins have replaced Bitcoin as the most widely used cryptocurrency in illicit activities, aligning with a 77% year-on-year increase in overall stablecoin transaction volume.
The report highlights a diversification trend in crypto crime during 2024: stolen funds rose 21% year-on-year to $2.2 billion, with private key compromises making up 43.8%; North Korean hackers stole a record $1.34 billion; and DeFi platforms emerged as primary targets.
Chainalysis estimates that the total value of illicit crypto transactions in 2024 will reach $51.3 billion, with $40.9 billion confirmed so far. High-yield investment scams and "pig-butchering" schemes were the most common types of fraud this year.
