Chainalysis revealed that illicit cryptocurrency addresses received $154 billion in 2025, an increase of 162% from revised 2024 figures, largely driven by sanctions-related activity involving networks linked to North Korea, Russia, Iran, and certain Asian laundering groups. Stablecoins accounted for 84% of these illegal transactions. Within this total, North Korean-linked hackers stole $2.17 billion, the highest annual figure on record, including the $1.5 billion Bybit Ethereum hack. The data also highlights a shift from DeFi exploitation to centralized exchanges for large-scale theft, with stolen funds laundered in numerous small transactions.