Illicit crypto activity has grown significantly in recent years.


According to Chainalysis data, funds received by illicit addresses rose from ~$11B in 2020 to about $154B in 2025.
The key detail: most of this growth comes from sanctioned entities, not the usual narratives like scams, ransomware, or darknet markets.
The real discussion should focus on sanctions-related flows moving through crypto, not just small-scale fraud.
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