Stablecoin crime report draws pushback as 2025 hacks reach $3.25 billion

Stolen crypto value rose to $3.25 billion in 2025, up 8.2% from $3.00 billion in 2024 and 24% above 2023. A New York Times report citing Chainalysis said more than $25 billion in illicit funds moved via stablecoins in 2024, a framing critics say overlooks that crypto accounts for only 0.14% of global illicit activity. Industry groups led by Tether point to on-chain enforcement, including freezing over $300 million in October 2025 and more than $3 billion overall.