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- Binance Research says illicit cryptocurrency transactions account for less than 1% of the total on-chain transaction volume.
- More than $75 billion in illicit cryptocurrency funds remained on-chain in 2025, up about 28% from the previous year.
Binance Research has put new numbers behind one of cryptocurrency’s most disturbing facts. Illicit activity still exists on-chain, and the dollar amount is significant. At the same time, it still represents a small portion of total blockchain activity, with illicit transactions accounting for less than 1% of the total on-chain volume.
The illicit funds remain significant, but they can be traced
According to Binance research, more than $75 billion in illicit cryptocurrency funds remained on-chain as of 2025. This is approximately 28% higher than in 2024 and shows that the balances associated with crime have not simply disappeared from the blockchain. Blockchain networks.
Illicit cryptocurrencies account for less than 1% of total transaction volume.
Over $75 billion in dirty money is stuck in the chain.
This is why blockchain transparency has become the worst enemy of money launderers 🧵 pic.twitter.com/2MAHxHziXk
— Binance Research (@BinanceResearch) May 14, 2026
The important point is where that money is and how it moves. Unlike cash, cryptocurrencies often leave a public trace. Even when assets are split across wallets, moved across bridges, routed to new addresses or layered across services, the ledger is not forgotten. Investigators may lose speed, but they don’t necessarily lose track.
Binance Research said that more than 80% of the illicit funds on the chain have already been transferred to the final addresses. In plain terms, funds are no longer just found in the original wallets associated with hacks, scams or other criminal activity. It was pushed deeper into the network with follow-up titles. This makes tracking more difficult, but not impossible.
This is where crypto differs sharply from the old narrative about anonymous money. Most major blockchains are transparent by design. Wallets may be pseudonymous, but transactions are public. Each hop creates another record, and each interaction with an exchange, bridge, stablecoin issuer, or DeFi protocol can become a point of analysis.
This does not mean that implementation is easy. not so. Criminals can move quickly, use cross-cutting routes and exploit jurisdictions with weaker controls. But transferring stolen or illicit assets via blockchain networks does not mean erasing evidence. In many cases, it creates more evidence.
Blenders face capacity limits
The report also points to a practical bottleneck in money laundering. Master mixers have limited daily processing capacity. Binance Research estimated that laundering $1 billion of stolen funds through these channels could take more than 100 days.
This is important because time works against criminals. The longer the money remains visible, the greater the chances of exchanging opportunities. Stable coin Issuers and investigators are required to flag wallets, freeze flows, or prevent derailments. This is why big breakouts often turn into long, slow movement patterns rather than immediate clean exits.
Money laundering also involves market risks. If criminals try to move too much through limited channels, they may attract attention. If they wait, prices could move against them. If regulated platforms touch, compliance systems may pick up the money. This is why large stolen balances sometimes remain dormant for long periods, even when the original theft occurred months or years ago.
For the cryptocurrency industry, the numbers cut both ways. The less than 1% figure helps counter the claim that blockchain is primarily used in crime. Most activities on the chain are not illegal. But $75 billion is still a serious number, and cannot be brushed aside as a rounding error.
