A recent report by blockchain analytics firm Chainalysis has revealed a significant shift in cryptocurrency-related crimes, with stablecoins now being the primary target for illicit activities. The “2025 Crypto Crime” report highlights a 63% surge in illegal transactions involving stablecoins, marking a clear departure from the dominance of Bitcoin in past years.
Stablecoins Overtake Bitcoin in Crypto Crimes
In 2020, Bitcoin (BTC) was the primary focus of cybercriminals due to its high liquidity and market dominance. However, by 2024, criminals have increasingly turned to stablecoins, which now account for a substantial portion of illicit transactions. The report states that stablecoins’ overall usage in cryptocurrency transactions has reached 77%, making them a prime target for unlawful activities.
Why Are Criminals Targeting Stablecoins?
The rise in stablecoin-related crimes can be attributed to several factors:
- Widespread Adoption – Stablecoins are widely used for cross-border payments, remittances, and international trade, increasing their exposure to illicit activities.
- Price Stability – Unlike volatile cryptocurrencies like Bitcoin and Ethereum, stablecoins offer predictable value, making them more appealing for criminal transactions.
- Ease of Transfer – Stablecoins provide faster and cheaper transactions across different blockchains, allowing criminals to move funds quickly.
Freezing of Criminal Assets by Stablecoin Issuers
Despite the rising use of stablecoins in illicit transactions, issuers and blockchain intelligence firms are taking strong countermeasures. The report highlights that Tether, TRON blockchain, and TRM Labs have collaborated with law enforcement agencies to freeze over $100 million in criminal assets across five continents.
Additionally, Tether has actively blocked addresses linked to terrorism financing, scams, and sanctions evasion, reinforcing the notion that stablecoins may not be the ideal choice for cybercriminals.
Bitcoin Still Dominates Ransomware & Darknet Markets
While stablecoins have taken the lead in crypto-related crimes, some illicit activities remain Bitcoin-dominated. Ransomware attacks and darknet market transactions continue to rely heavily on BTC due to its deep liquidity and relative anonymity.
Despite these challenges, the increasing scrutiny and regulatory measures surrounding stablecoins suggest a tightening grip on crypto-related financial crimes. The report underscores the evolving landscape of illicit cryptocurrency use and the ongoing battle between criminal actors and regulatory authorities.
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