Illicit cryptocurrency transactions surged in 2025, reaching at least $154 billion, driven by sanctioned countries like Russia, Iran, and North Korea using digital currency to evade financial blockades. The rise of stablecoins, pegged to national currencies like the US dollar, facilitated these transactions, with 84% of illicit money flows transacted in stablecoins. This growth in cryptocurrency transactions has also fueled the maturation of cybercriminal services, posing challenges for law enforcement.
https://www.darkreading.com/cyber-risk/illicit-crypto-economy-surges-nation-states