Global sanctions drive record surge in illicit crypto flows

Global sanctions pushed cryptocurrency sent to illicit addresses to a record $154 billion in 2025, driven largely by activity linked to sanctioned entities.

Blockchain analytics firm Chainalysis reported “unprecedented volumes associated with nation-states’ on-chain behaviour” in its 2026 crypto crime report.

Illicit crypto inflows rose 162% year-on-year from $59 billion in 2024 as blacklisted actors increasingly turned to digital assets to evade restrictions.

Russia launched its rouble-backed A7A5 token in February 2025 and processed more than $93.3 billion in transactions within a year amid Western sanctions.

In 2025, we tracked a notable rise in nation-state activity in crypto, marking the latest phase in the maturation of the illicit on-chain ecosystem.

The Chainalysis team said.

The Global Sanctions Inflation Index estimated nearly 80,000 sanctioned entities worldwide by May 2025, while the US added 3,135 names to its sanctions list in 2024.

Stablecoins dominated illicit crypto use in 2025, accounting for 84% of volume, reflecting trends seen across legitimate markets.

Chainalysis said illicit crypto activity remains below 1% of total transaction volume, with the vast majority of transfers still lawful.

At the time of reporting, A7A5 price was $0.01231.