TRM-Crypto-Crime-Report-2026.md

TRM's 2026 Crypto Crime Report finds illicit crypto inflows hit a record USD 158 billion in 2025, driven chiefly by Russia-linked sanctions activity (notably the A7A5 stablecoin and the A7 wallet cluster), several large-scale hacks, and rapidly growing Chinese-language escrow and underground banking services; the report also introduces methodological updates—restricting denominators to service-like activity and framing illicit activity as a share of VASP outflows—and emphasizes improved attribution through the Beacon Network.