TRM Labs’ 2026 Crypto Crime Report finds a record USD 158 billion in illicit crypto flows for 2025 and documents a structural shift toward operational compromise and industrialized fraud. The report highlights a roughly 500% surge in AI‑enabled scams and notes major Russia‑linked flows and large laundering networks.

TRM Labs’ 2026 Crypto Crime Report documents a record year for illicit crypto activity, estimating USD 158 billion in illicit flows during 2025 and identifying a major structural shift in criminal techniques. The report says attackers moved from isolated hacks toward operational compromise of keys and wallet infrastructure and the industrialization of fraud via scalable platforms. It flags a roughly 500 percent increase in AI‑enabled scams that leverage large language models, voice cloning and deepfakes to scale impersonation and investment fraud, eroding traditional trust signals. TRM also calls out significant Russia‑linked flows and details large laundering networks, including Brazil’s Operation Lusocoin, to illustrate how shell companies, OTC brokers and noncustodial wallets are used at scale. The analysis stresses the growing geographic diversity of threats, the blending of crypto rails with traditional financial crime, and the need for enhanced cross‑border enforcement and private sector detection capabilities to disrupt complex laundering architectures and deliver restitution to victims.