TLDR:
- Public crypto wallets tied to crime now hold $75B, most from stolen funds and scams.
- Bitcoin remains the top choice, making up 75% of illicit balances stored long-term.
- Use of mixers and cross-chain bridges increases, replacing direct exchange transfers.
- Chainalysis has helped authorities recover over $12.6B in illegal crypto funds so far.
Blockchain analytics firm Chainalysis has identified more than $75 billion in cryptocurrency linked to criminal activity held in publicly viewable wallets. The findings, released on October 9, 2025, show that a large portion of this amount remains untouched and accessible for law enforcement to track.
Of the $75 billion total, nearly $15 billion is held directly in wallets linked to illegal activities such as theft, scams, and darknet markets.
The remaining $60 billion is spread across downstream wallets that have received funds from these primary illicit sources. These wallets are not always directly associated with criminal actors but are part of a wider laundering network.
Darknet Markets and Stolen Funds Drive Growth
Darknet markets continue to be a large part of this ecosystem. According to the report, market administrators and vendors currently control about $46.2 billion worth of crypto. These markets have existed for years, with many tracing their origins back to the Silk Road era.
The largest share of criminal balances comes from stolen funds. Chainalysis notes that hackers often face challenges moving large amounts without raising suspicion, which results in them holding the funds for extended periods.
Recent events, including the $1.5 billion Bybit hack tied to North Korea, show how difficult it can be to off-ramp large sums through traditional channels.
Additionally, Bitcoin remains the most commonly held digital asset among illicit wallets. Chainalysis reports that 75% of criminal balances are in Bitcoin. This is largely due to Bitcoin’s long-term price increase, which has inflated the value of funds kept in wallets for years.
The report also notes that over one-third of wallets tied to criminal activity still hold Bitcoin more than a year after their last transaction. This trend suggests that many actors are using Bitcoin more as a store of value.
Stablecoins, while also used, are less concentrated because they can be frozen by the issuers, making them riskier for long-term storage.
Criminals Shift to Mixers and Cross-Chain Bridges
Chainalysis has observed a major drop in direct transfers from illicit wallets to centralized exchanges.
The share of such transfers has fallen from over 40% in past years to around 15% in 2025. This suggests a growing use of privacy tools like mixers and cross-chain bridges, which are designed to hide the trail of funds.
This shift complicates law enforcement efforts to seize assets. A Chainalysis spokesperson stated, “These methods make tracking harder, but transparency in blockchain still provides enforcement agencies with a chance to act.”
Despite these hurdles, Chainalysis data has supported the recovery of over $12.6 billion in illegal funds worldwide.
While criminals are adapting their tactics, the visibility of blockchain transactions gives agencies a tool to monitor and potentially seize assets. The fact that large volumes of crypto remain untouched in traceable wallets creates opportunities for recovery.
Chainalysis continues to work with governments and regulators around the world to provide insights on illicit activity. The company’s findings show the scale of digital assets in circulation that are linked to illegal operations and the need for continued monitoring.
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Source: https://blockonomi.com/bitcoin-dominates-75b-in-criminal-wallets-says-chainalysis/