In 2025, illegal cryptocurrency transaction volume exceeds 200 trillion Korean won, with stablecoins becoming the main tool

Source: TokenPost Original Title: North Korea and Russia Lead, Illegal Cryptocurrency Transactions Surpass 200 Trillion Won… 84% of Stablecoins Exploited Original Link:

North Korea, Russia, and Stablecoins Dominate Illegal Crypto Flows by 2025 with 200 Trillion Won

Blockchain analysis firm Chainalysis released a report indicating that North Korean hackers, Russian sanctions evasion, and stablecoins are at the center of the surge in illegal cryptocurrency activities by 2025. Last year, the amount flowing into addresses related to crypto crime reached $154 billion (approximately 200 trillion won), a 162% increase from the previous year.

This figure shows rapid growth in major crypto crime types such as hacking, money laundering, sanctions evasion, and scams. Especially, the inflow of funds to entities subject to international sanctions surged by 694%. Even excluding this factor, last year was recorded as the year with the highest illegal crypto activity.

Stablecoins Rapidly Rising as Transaction Tools, Account for 84% of Illegal Transactions

According to the report, 84% of illegal crypto transactions in 2025 are conducted using stablecoins. Their quick transfer speed, low volatility, and high practicality for cross-border settlements are considered primary reasons for their abuse.

Chainalysis added that although illegal transaction amounts have increased significantly, their proportion in overall crypto trading volume remains below 1%, making it extremely small.

North Korean Hacker Activities Most Severe Ever, 2 Trillion Won in Bitcoin Misappropriated

Among malicious actors at the national level, North Korea stands out. Last year, North Korean-affiliated hacker groups stole cryptocurrencies worth $2 billion (about 2.9 trillion won) through large-scale attacks. Notably, during a hacking incident at an exchange in February, a record $1.5 billion (about 2.1 trillion won) was transferred, which Chainalysis analysis attributes to North Korean hackers.

The report states that North Korean hackers have become more sophisticated in their infiltration techniques and money laundering methods. 2025 is expected to be the most destructive year for North Korea in crypto crime.

Russia and Iran Expand Activities, State-Backed Tokens Emerge

Russia is also increasing its use of cryptocurrencies to evade sanctions. In February last year, Russia officially launched the ruble-based token A7A5, which recorded $93.3 billion (about 1.36 trillion won) in transactions within a year.

Iran also transferred over $2 billion in cryptocurrencies through state and related agencies, related to arms procurement, oil smuggling, and funding terrorist organizations. Chainalysis revealed that Iran-aligned armed groups such as Hezbollah, Hamas, and Houthi rebels significantly increased their use of cryptocurrencies.

Chinese Money Laundering Networks Service North Korean Hackers and Criminal Organizations

Beyond state-led activities, Chinese money laundering organizations are expanding their influence by providing increasingly professionalized “money laundering services.” They offer criminal infrastructure to North Korean hackers, scam groups, sanctioned entities, and terrorist financiers, becoming core players in the crypto crime ecosystem.

The report also notes that “full-stack” criminal infrastructure supporting illegal transactions is expanding. This includes ransomware distributors, malicious code providers, and operators of illegal platforms using bulletproof hosting, domain creation, and evasion techniques.

The Growing Link Between Cryptocurrency and Violent Crime

Chainalysis warns that cases linking cryptocurrencies to violent crimes such as human trafficking and robbery are increasing in 2025. During periods of price surges, violent acts like forced transfers and kidnappings targeting crypto holders are particularly prominent.

The report emphasizes that “2025 is the year when the trend of state-led crimes and illegal activities among individuals revolving around cryptocurrencies becomes increasingly evident,” and again urges global regulators to take action.