Chainalysis report: darknet markets handled nearly $2.6B in crypto in 2025

Darknet marketplaces and drug vendors took in nearly $2.6 billion in cryptocurrency in 2025, with inflows to drug-linked addresses slightly above $2.5 billion. From mid-2023, payments for fentanyl precursors fell sharply, and larger transfers over $500 correlated with worse Canadian health outcomes, underscoring how on-chain activity can act as an early warning for public health and enforcement.