Chainalysis: Sanctioned Entities Received $104B in Crypto in 2025, 700% Jump Year-Over-Year

Sanctioned entities received at least $104 billion in cryptocurrency in 2025, a 700% increase from 2024, pushing total illicit onchain transaction value to $154 billion, Chainalysis reports via CoinDesk. Sanctioned countries including Russia, Iran, and North Korea are incorporating crypto into national financial strategies to bypass traditional banking systems, with stablecoins accounting for around 84% of illicit transaction volumes. A ruble-pegged stablecoin named A7A5 processed $93.3 billion in under a year, serving as a settlement tool for cross-border trade for sanctioned Russian companies and linked to exchanges Grinex and Meer, which handled billions before U.S. and European sanctions. A7A5 also operates an "instant exchange" service that converted over $2.2 billion into major USD stablecoins with limited KYC checks, Iranian services tied to Islamic Revolutionary Guard Corps-associated addresses received more than $3 billion (over 50% of their inflows), and North Korea stole more than $2 billion in crypto in 2025, remaining the largest crypto cyber thief.