Global sanctions fuel record flow to illicit crypto addresses
The Global Sanctions Inflation Index estimated there were just under 80,000 total sanctioned entities and persons globally as of May 2025.
Ongoing sanctions against nation-states last year pushed the total value of crypto received by illicit addresses to its highest in history, as blacklisted entities sought to evade sanctions at scale.
Throughout 2025, there were “unprecedented volumes associated with nation-states’ on-chain behavior,” blockchain analytics firm Chainalysis said in their 2026 crypto crime report on Thursday.
Illicit cryptocurrency addresses received at least $154 billion in 2025, a 162% increase year-over-year from 2024’s $59 billion, primarily driven by the value received by sanctioned entities.