Chainalysis Uncovers $75 Billion in Criminal Crypto in Public Wallets
Chainalysis, a blockchain analytics firm, has discovered a staggering $75 billion in criminal cryptocurrency sitting in publicly viewable wallets. This massive amount is primarily linked to stolen funds and darknet markets.
The report, released on October 9, reveals that Bitcoin makes up 75% of all criminal balances. Hackers are increasingly using it as a store of value. Direct transfers to exchanges have dropped to 15%, indicating a shift towards mixers and cross-chain bridges to avoid detection.
Chainalysis distinguishes between wallets directly linked to criminal activity, holding nearly $15 billion, and downstream wallets that have received significant portions of illicit funds, holding the remaining $60 billion.
as 2020, the combined balance of Bitcoin, Ethereum, and stablecoins held by illicit entities has surged by 359%, reaching nearly $15 billion as of July 2025. Stolen funds dominate this landscape.
Recent mega-hacks, like the $1.5 billion Bybit theft linked to North Korea, show the difficulty of off-ramping large sums without drawing attention. Darknet market administrators and vendors alone control a colossal $46.2 billion.
Bitcoin remains the criminal asset of choice, accounting for 75% of all illicit entity balances. Criminals treat Bitcoin as a long-term store of value; over a third of illicit BTC wallets still hold balances a full year after their last transaction.
direct transfers from illicit entities to centralized exchanges have fallen from over 40% to around 15%. this indicates a major shift toward using mixers and cross-chain bridges for obfuscation.
For law enforcement,these changes complicate asset recovery. Tho, the openness of blockchain still presents an advantage. Chainalysis data has already helped authorities seize more than $12.6 billion in illicit funds worldwide.
