Crypto Transfers to Sanctioned Actors Hit $104B in 2025

Sanctioned state-linked actors including Russia, Iran, and North Korea received at least $104 billion in cryptocurrency in 2025, up nearly eightfold from 2024, according to blockchain analytics firm Chainalysis, as reported by CoinDesk. Chainalysis data shows that total illicit on-chain transaction volume reached a record $154 billion in 2025, with stablecoins accounting for 84% of that activity. A Russia-linked A7A5 stablecoin handled more than $93 billion in transactions, the report said. In a separate February report, blockchain intelligence firm TRM Labs estimated that $141 billion in stablecoins was transferred to illicit entities.