A recent report by Chainalysis, a U.S.-based blockchain analysis firm, has uncovered a significant shift in cryptocurrency-related crimes. In its latest “2025 Crypto Crime” report, the firm reveals that criminals are increasingly targeting stablecoins over Bitcoin and other cryptocurrencies.

Surge in Stablecoin Crimes

According to the report, illegal transactions involving stablecoins have surged by 63% in 2024. This marks a stark contrast to 2020, when Bitcoin was the primary focus of cybercriminals due to its dominance in price and liquidity. However, as stablecoins now account for 77% of all crypto transactions, they have become a preferred medium for illicit activities.

The rising adoption of stablecoins for remittances, cross-border payments, and trade has inadvertently attracted bad actors. Cybercriminals find them appealing due to their price stability and high liquidity, making it easier to move large sums undetected.

Stablecoin Issuers Fight Back

Despite their growing misuse, stablecoin issuers and blockchain intelligence firms are actively freezing illicit funds. Major players like Tether, the TRON blockchain, and TRM Labs have collectively blocked over $100 million in criminal assets across five continents.

Tether, in particular, has taken a proactive stance, freezing addresses linked to scams, terrorist financing, and sanctions evasion. This highlights the ongoing battle between regulatory bodies and criminals attempting to exploit blockchain technology.

Bitcoin Still Dominates Certain Crimes

While stablecoin-related crimes are on the rise, Bitcoin remains the top choice for specific illegal activities, such as:

• Ransomware attacks
• Darknet market (DNM) transactions

These activities rely on Bitcoin’s widespread adoption and decentralized nature, making it harder to track and recover funds.

The Future of Crypto Crime

As stablecoins continue to dominate the crypto landscape, criminals will likely adapt their strategies. However, with law enforcement agencies and blockchain firms ramping up security measures, the fight against crypto crime is far from over. Stronger regulatory frameworks and technological advancements will be key in reducing illicit activity in the evolving crypto space.