U.S. Treasury flags $2.8B North Korean crypto theft as stablecoins draw 84% illicit share in 2025

As digital assets gain adoption, the U.S. Treasury, under the GENIUS Act, has examined tools like AI, digital identity, blockchain analytics, and APIs to detect illicit activity and strengthen oversight, with a particular focus on stablecoins. The report notes that stablecoins represented about 84% of illicit crypto transaction volume in 2025 and cites North Korean-linked hacks totaling an estimated $2.8 billion over two years, alongside $104 billion moved by sanctioned entities in 2025.