The world of cryptocurrency, while revolutionary in its potential, isn't without its dark corners. 仮想通貨犯罪の95％はビットコイン（btc）がらみだ。米チェイナリシスの共同創設者ジョナサン・レビン氏が4月24日、フォーチュンに述べた。 米チェイナリシスの共同創設者ジョナサン・レビン氏が4月24日、フォーチュンに述べた。A recent revelation from Chainalysis, a leading blockchain analysis firm, underscores a persistent issue: the overwhelming prevalence of Bitcoin (BTC) in crypto-related crimes.According to Jonathan Levin, co-founder and COO of Chainalysis, at least 95% of cryptocurrency crimes investigated by law enforcement involve Bitcoin.This dominance isn't new, but it highlights the challenges authorities face in combating illicit activities within the digital asset space.Why is Bitcoin still the go-to choice for criminals despite the rise of other cryptocurrencies and the increasing sophistication of blockchain analysis tools? At Least 95 Percent of Crypto Crimes Involve Bitcoin, Chainalysis Executive SaysThis article delves into the reasons behind Bitcoin's continued popularity in the criminal underworld, explores the types of crimes associated with it, and examines the efforts being made to combat these illicit activities.We'll also look at how the evolving crypto landscape, including the emergence of stablecoins and the rise of DeFi, are impacting the nature of crypto crime. Episode 97 of the Public Key podcast is here! The highly anticipated Chainalysis 2025 Crypto Crime Report is being downloaded world wide and we speak to the driving forces behind the report, Eric Jardine (Cybercrimes Research Lead, Chainalysis) and Kim Grauer (Director of Research, Chainalysis) to talk ransomware, darknet markets, sanctions, DeFi hacks and so much more.Understanding these trends is crucial for investors, regulators, and anyone interested in the long-term health and integrity of the cryptocurrency ecosystem.Prepare to uncover the complex relationship between Bitcoin and crime, and the ongoing battle to keep the digital frontier safe.
Why Bitcoin Remains the Criminal's Choice
Despite the emergence of numerous other cryptocurrencies, Bitcoin continues to reign supreme as the preferred currency for illicit activities.Several factors contribute to this enduring popularity:
- First-Mover Advantage: Bitcoin was the original cryptocurrency, establishing a vast network and widespread recognition.This longevity means it's accepted in more places, even in the dark corners of the internet.
- Liquidity and Accessibility: Bitcoin boasts high liquidity, making it easier to convert into fiat currency or other digital assets. Public Key Episode 151: Crypto and Geopolitics: Unmasking Sanctions Evasion Tactics. With the Chainalysis 2025 Crypto Crime Report about to be released and the news about Bybit and the largest crypto hack in history, there is no better time than to discuss DPRK, sanctions evasion and the rise of crypto services used by illicit actors, including Huione Guarantee and Russian Instant Exchangers.Its accessibility through numerous exchanges and peer-to-peer platforms further simplifies its use.
- Familiarity: Criminals, like anyone else, tend to stick with what they know.Bitcoin has been around for over a decade, and many criminals are simply more familiar and comfortable using it.
- Network Effect: The larger the network, the easier it is to transact. Assuming a similar growth rate between now and next year s Crypto Crime Report, our annual totals for 2025 could surpass the $51 billion threshold. In general, our totals exclude revenue from non-crypto-native crime, such as traditional drug trafficking and other crimes in which crypto may be used as a means of payment or laundering.Bitcoin's massive user base provides a degree of anonymity, making it harder to trace individual transactions compared to smaller, less established cryptocurrencies.
It's important to note that while Bitcoin offers a degree of pseudonymity, it's not truly anonymous. Download the full report to learn more about the Ponzi schemes and other scams that drove crypto crime in 2025. You ll also get data, research, and case studies on other forms of crypto crime, including darknet markets, ransomware, exchange attacks, and more. Why we research crime in cryptocurrencyBlockchain analysis firms like Chainalysis are increasingly adept at tracing Bitcoin transactions and identifying the individuals behind them. Chainalysis says an even smaller number of exchanges now enable the money-laundering trade of cryptocurrency for actual dollars, euros, and yen: It found that just five cryptocurrency exchangesHowever, the sheer volume of Bitcoin transactions and the techniques used to obfuscate them still make it a challenging task.
Types of Crypto Crimes Involving Bitcoin
Bitcoin's versatility as a digital currency means it's implicated in a wide range of criminal activities.Here are some of the most common types of crypto crimes involving Bitcoin:
- Ransomware Attacks: Cybercriminals often demand ransom payments in Bitcoin to unlock encrypted files or systems.The relative anonymity and ease of transferring Bitcoin make it an ideal currency for these types of attacks. 2025 was a significant year for ransomware, highlighting the ongoing threat.
- Darknet Markets: Bitcoin is the currency of choice for illegal goods and services sold on darknet marketplaces, including drugs, weapons, and stolen data. Al menos el 95% de los delitos de criptomonedas investigados por las fuerzas de seguridad involucran a bitcoin (BTC), el co-fundador y COO de Chainalysis le dijo a Fortune el 24 de abril. Jonathan Levin, cuya compa a ofrece software de investigaci n para que las fuerzas de seguridad persigan a los malos actores, dijo que BTC es de lejos laThese markets thrive on the anonymity that Bitcoin provides, albeit a limited form of anonymity.
- Scams and Fraud: Bitcoin is used in various scams, including Ponzi schemes, investment scams, and romance scams (also known as ""pig butchering"").These scams often lure victims with promises of high returns or emotional connection, then steal their Bitcoin. Pelo menos 95% dos crimes de criptomoeda investigados pela aplica o da lei envolvem Bitcoin (BTC), disse o cofundador e COO da Chainalysis Fortune em 24 de abril. Jonathan Levin, da empresa que oferece software de investiga o para policiais perseguirem os maus atores, disse que o BTC de longe o favorito para hackers e criminosos.Approval phishing has also seen a rise, where scammers trick users into approving malicious transactions.
- Money Laundering: Criminals use Bitcoin to launder illicit funds by obscuring the origin of the money and making it difficult to trace back to its source.They may use mixers or tumblers to break the link between transactions and hide the flow of funds.A small number of crypto exchanges facilitate the money-laundering trade of cryptocurrency for actual dollars, euros, and yen.
- Terrorist Financing: While less prevalent than other types of crypto crime, Bitcoin has been used to finance terrorist activities.The ability to send funds across borders relatively anonymously makes it attractive to terrorist groups.
- Hacks and Thefts: Cryptocurrency exchanges and individual wallets are often targeted by hackers who steal Bitcoin.These hacks can result in significant losses, sometimes amounting to tens or even hundreds of millions of dollars.
The Evolving Landscape of Crypto Crime
While Bitcoin remains the dominant cryptocurrency in criminal activities, the landscape of crypto crime is constantly evolving. Cryptocurrency researchers at Chainalysis discovered that Bitcoin is used in 95 percent of crypto-related crimes, but it seems there s a silver lining. Bitcoin remains the cryptocurrency of choice for illegal activities, according to Chainalysis, a globally respected crypto research companyThe emergence of new technologies and the changing regulatory environment are influencing the types of crimes committed and the methods used by criminals.
The Rise of Stablecoins
Recent reports suggest a shift towards stablecoins in certain types of criminal activities. Alterya, positioning itself as a preemptive scam detector, claims expertise in thwarting fraudsters before they target their victims.Stablecoins, which are pegged to a stable asset like the US dollar, offer greater price stability than Bitcoin, making them attractive for certain transactions.Criminals are increasingly targeting stablecoins due to their reduced volatility and enhanced usability in various financial transactions. How the New CEO of Chainalysis Is Positioning the Crypto Crime Fighting Firm in the Trump Era. Co-founder Jonathan Levin took on the top job at the $8 billion firm in December.This trend suggests that criminals are adapting to the changing crypto landscape and seeking out the most convenient and efficient tools for their illicit activities.
DeFi and Crypto Crime
Decentralized Finance (DeFi) platforms, which offer financial services without intermediaries, have also become a target for criminals.DeFi hacks are on the rise, with attackers exploiting vulnerabilities in smart contracts to steal funds. At least 95% of cryptocurrency crimes investigated by law enforcement involve bitcoin (BTC,) the co-founder and COO of Chainalysis told Fortune on April 24. Jonathan Levin, whose company offersThe decentralized and often unregulated nature of DeFi makes it challenging to prevent and investigate these crimes.
The Impact of Bitcoin ETFs
The approval of spot Bitcoin ETFs in 2025 has had a significant impact on the crypto market.The influx of institutional investment has increased the overall volume of legitimate crypto transactions. Approval phishing is a scamming tactic that has existed for many years. But whereas approval phishing scammers have historically targeted wide swaths of crypto users through the proliferation of fake crypto apps, romance scammers (also known as pig butchering scammers) appear to have adopted this technique to great effect in recent years.While this is a positive development, it also means that the proportion of illicit transactions as a share of overall crypto activity is decreasing. A recent cyber crime report from Chainalysis has revealed a disturbing trend of criminals increasingly targeting stablecoins over other major cryptocurrencies including Bitcoin in 2025. Chainalysis, a U.S. based blockchain analysis firm, in their latest 2025 Crypto Crime report, has highlighted this shift of cyber criminals towardsAlthough the absolute amount of crypto crime may still be significant, it represents a smaller percentage of the total crypto market volume.
Combating Crypto Crime: Tools and Strategies
Law enforcement agencies and blockchain analysis firms are constantly developing new tools and strategies to combat crypto crime. Crypto automatic teller machines (ATMs) (also known as Bitcoin ATMs or crypto kiosks) allow users to buy and sell cryptocurrency using an ATM, and have been around for over a decade. While crypto ATMs are used for legitimate purposes, they are also popular among scammers, and in the last few years, the FBI has received thousands of reportsThese efforts include:
- Blockchain Analysis: Companies like Chainalysis offer investigation software that allows law enforcement to trace Bitcoin transactions and identify the individuals behind them. We took a look at hacks that target cryptocurrency organizations such as exchanges. These hacks involve large thefts, often stealing tens or even hundreds of millions of dollars directly from exchanges. Hacking dwarfs all other forms of crypto crime, and it is dominated by two prominent, professional hacking groups.This technology is crucial for tracking the flow of illicit funds and bringing criminals to justice.
- Collaboration and Information Sharing: Law enforcement agencies around the world are working together to share information and coordinate investigations into crypto crime.This collaboration is essential for tackling transnational criminal organizations.
- Regulatory Oversight: Governments are implementing regulations to combat money laundering and other financial crimes involving cryptocurrency.These regulations include requirements for exchanges to verify the identity of their customers and report suspicious transactions.
- Education and Awareness: Educating the public about the risks of crypto scams and providing resources for victims is crucial for preventing these crimes.Raising awareness about the dangers of investing in unregulated crypto projects can also help protect consumers.
- Advanced Technologies: Tools like preemptive scam detectors, such as Alterya, are emerging to identify and thwart fraudsters before they can target victims. The approval of spot bitcoin ETFs in 2025 prompted a wave of institutional volume, this brings down the ratio of crypto crime volume to industry-wide volume, with illicit transactions accountingThese technologies utilize sophisticated algorithms and data analysis to detect suspicious patterns and prevent scams.
The Role of Crypto ATMs
Crypto automatic teller machines (ATMs), also known as Bitcoin ATMs or crypto kiosks, have been used for over a decade to allow users to buy and sell cryptocurrency using an ATM.While crypto ATMs are used for legitimate purposes, they are also popular among scammers.In recent years, the FBI has received thousands of reports related to the misuse of crypto ATMs. 2025 was a year of recovery for cryptocurrency, as the industry rebounded from the scandals, blowups, and price declines of 2025. With crypto assets rebounding and market activity growing over the course of 2025, many believe that crypto winter is ending, and a new growth phase may soon be upon us. But what did all of that mean for crypto crime?Law enforcement agencies are working to regulate and monitor these ATMs to prevent their use in illicit activities.
The Chainalysis Crypto Crime Report: Key Insights
The Chainalysis Crypto Crime Report is an annual publication that provides valuable insights into the latest trends in cryptocurrency-based crime.The report covers a wide range of topics, including:
- The decline in crypto hacking: Examining the factors contributing to the decrease in hacking incidents and its implications for the DeFi sector.
- The intersection of crypto scamming and human trafficking: Investigating the link between these two types of crimes and the methods used by criminals.
- Ransomware trends: Analyzing the latest developments in ransomware attacks and the strategies used by cybercriminals.
- Darknet market activity: Examining the trends in darknet market activity and the types of goods and services being traded.
- Sanctions evasion: Investigating how cryptocurrencies are used to evade sanctions.
The report also provides data and research on other forms of crypto crime, including exchange attacks, Ponzi schemes, and other scams. Public Key Episode 137: The Cyber Avengers: Transforming Crime Fighting with Technology and Partnerships. Traditional financial crime has evolved from robbing banks to now draining crypto wallets and law enforcement is expected to keep up with this lightning quick and cutting edge technology to combat transnational criminals.It is a valuable resource for law enforcement agencies, regulators, and anyone interested in understanding the risks and challenges associated with cryptocurrency.
Case Studies: Unmasking Crypto Criminals
Chainalysis and other blockchain analysis firms have been instrumental in identifying and prosecuting crypto criminals. In the case of Bitcoin, developers have come up with the Lightning Network, which allows users to lock Bitcoin into payment channels, make many small Bitcoin transactions off-chain, then settle them all at once on-chain later in one big transaction using the initial amount locked.Here are a few notable case studies:
- Silk Road Creator: Chainalysis discovered that a mysterious 300-bitcoin donation to the pardoned Silk Road creator appeared to have come from someone associated with AlphaBay, another defunct black market.This investigation highlights the ability of blockchain analysis to uncover hidden connections and track the flow of illicit funds.
- Exchange Hacks: Chainalysis has helped law enforcement agencies track down the hackers responsible for several major cryptocurrency exchange hacks. Our annual Crypto Crime Report is out now! Inside, you ll get original research and analysis on the latest trends in cryptocurrency-based crime, including: - The decline in crypto hacking and what it means for DeFi - The intersection of crypto scamming and human trafficking - Why 2025 was the biggest ransomware year ever - And more!By analyzing the flow of funds stolen in these hacks, they have been able to identify the individuals involved and recover some of the stolen assets.
- Ransomware Attacks: Chainalysis has assisted in investigations into numerous ransomware attacks, helping to identify the perpetrators and recover ransom payments.Their analysis has also revealed patterns in the way ransomware groups operate and the methods they use to launder their ill-gotten gains.
The Future of Crypto Crime and Law Enforcement
The fight against crypto crime is an ongoing battle. At least 95% of cryptocurrency crimes investigated by law enforcement involve bitcoin (BTC,) the co-founder and COO of Chainalysis told Fortune on April 24. Jonathan Levin, whose company offers investigation software for law enforcement to pursue bad actors, said BTC is by far the favorite for hackers and criminals.As technology evolves, criminals will continue to find new ways to exploit the system. It s also worth keeping in mind that despite this year s jump, crime as a share of all crypto activity is still trending downwards. Our full 2025 Crypto Crime Report will dig into the details of the criminal activity behind that 0.24%, as well as what our on-chain analysis reveals about the market failures of the last year.Law enforcement agencies and blockchain analysis firms must stay ahead of the curve by developing new tools and strategies to combat these illicit activities.
The Importance of International Cooperation
Crypto crime is often transnational, making international cooperation essential. In part 2 of our 2025 Mid-Year Crypto Crime Update, we explore on-chain activity related to CSAM and the latest crypto scam trends like pig butchering.Law enforcement agencies around the world must work together to share information and coordinate investigations.This collaboration is crucial for tackling criminal organizations that operate across borders.
The Role of Regulation
Regulation plays a crucial role in combating crypto crime.Clear and consistent regulations can help to prevent money laundering, terrorist financing, and other financial crimes involving cryptocurrency.However, regulations must be carefully designed to avoid stifling innovation and hindering the growth of the crypto industry.
The Need for Education and Awareness
Educating the public about the risks of crypto scams and providing resources for victims is essential for preventing these crimes. In part 1 of our 2025 Mid-Year Crypto Crime update, we examine how illicit on-chain activity dropped 20% YTD but stolen funds and ransomware are rising.Raising awareness about the dangers of investing in unregulated crypto projects can also help protect consumers.
Is Bitcoin Itself the Problem?
It's important to remember that Bitcoin, as a technology, is not inherently criminal. Crypto-tracing firm Chainalysis says the mysterious 300-bitcoin donation to the pardoned Silk Road creator appears to have come from someone associated with a different defunct black market: AlphaBay.It's a tool, and like any tool, it can be used for both good and evil.The vast majority of Bitcoin transactions are legitimate, and Bitcoin has many legitimate uses, including facilitating cross-border payments, providing financial services to the unbanked, and enabling new forms of commerce.
The fact that Bitcoin is used in criminal activities is a reflection of the fact that it is a widely adopted and accessible cryptocurrency.As long as there is demand for illicit goods and services, criminals will find ways to facilitate transactions, whether it's through Bitcoin, cash, or other means.
Conclusion: A Constant Vigilance Against Crypto Crime
The data is clear: At least 95 percent of crypto crimes involve Bitcoin.This statistic underscores the persistent challenge of combating illicit activities in the cryptocurrency space.While Bitcoin's dominance in the criminal underworld is due to its first-mover advantage, liquidity, and familiarity, the evolving crypto landscape is introducing new challenges, such as the rise of stablecoins and DeFi-related crimes.Law enforcement agencies and blockchain analysis firms are working tirelessly to develop new tools and strategies to combat these crimes, including blockchain analysis, international collaboration, and regulatory oversight.However, the fight against crypto crime is an ongoing battle, and constant vigilance is required.By staying informed about the latest trends and working together, we can create a safer and more secure cryptocurrency ecosystem.
Key takeaways:
- Bitcoin remains the dominant cryptocurrency used in criminal activities.
- The types of crypto crimes are evolving, with stablecoins and DeFi-related crimes on the rise.
- Law enforcement agencies and blockchain analysis firms are developing new tools and strategies to combat crypto crime.
- International cooperation and regulatory oversight are essential for tackling transnational criminal organizations.
- Education and awareness are crucial for preventing crypto scams and protecting consumers.
Call to action: Stay informed about the latest trends in crypto crime and report any suspicious activity to the authorities.By working together, we can create a safer and more secure cryptocurrency ecosystem.