The volume of illicit crypto activity hit a new high in 2025, according to the blockchain intelligence platform TRM Labs. But that activity, as a share of overall crypto use, went down as legitimate use cases rose.
Cryptocurrency is being used more frequently in illegal transactions — about $158 billion was used in illicit crypto activity last year. That’s an all-time high, according to a new report from the startup TRM Labs.
This comes as the overall crypto ecosystem is growing, and it should be said, legitimate uses of crypto are growing at a faster rate than illegitimate ones.
Marketplace’s Stephanie Hughes spoke with Ari Redbord, global head of policy at TRM Labs and one of the authors of the new report, to learn more.
2026 Crypto Crime Report - from TRM Labs
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