UN: Damage from scam networks in the Asia-Pacific region has reached $114 billion — cryptocurrencies have become the financial backbone of crime
The scale of organized cybercrime in East and Southeast Asia, as well as in Australia and New Zealand, has reached astronomical levels. According to my calculations, based on data from relevant agencies, the total damage from scam operations in 2025 alone is estimated to range from $88.3 to $114.1 billion. This figure is not just a statistic, but an indicator of a profound transformation of the region's criminal economy.
Notably, in 2023, similar losses were estimated at $18–37 billion. Thus, over two years, the volume of theft has roughly tripled. This indicates not only an increase in the number of victims, but also the professionalization and industrialization of fraudulent schemes. The leaders in officially recorded losses for 2024–2025 were China ($5.1 billion), the Republic of Korea ($3.5 billion), and Taiwan ($2.8 billion).
Cryptocurrencies as a New Financial Infrastructure
The key conclusion I draw from this report is that cryptocurrencies, and primarily stablecoins, have become not just a tool, but a full-fledged settlement infrastructure for cross-border crime. The combination of USDT and the TRON blockchain stands out in particular. In essence, we are witnessing the formation of a parallel financial system that enables near-instant, cheap, and pseudonymous transfers bypassing traditional banking controls.
Criminal groups actively use P2P platforms, over-the-counter brokers, and underground banking networks to convert fiat money into stablecoins and back. This makes tracking and blocking fund flows extremely challenging for law enforcement.
Syndicates Have Shifted to "Franchising" and AI
In my observation, disparate criminal groups have consolidated into a single cross-border network with shared infrastructure. This model, which experts compare to corporate franchising, includes specialized "departments" for money laundering, human trafficking, illegal migrant smuggling, and data collection. All of them are tied to a common service network.
The technological arsenal of the perpetrators is impressive. Generative AI, deepfakes, encrypted messengers, and even satellite internet (including Starlink) are used to scale attacks, bypass checks, and operate in remote areas. For example, the use of legitimate advertising networks to distribute malware and phishing grew by 42% year-over-year in 2025.
My analysis: The scale and complexity of this criminal economy have already outpaced existing countermeasures. Simply disrupting individual operations is ineffective as long as the revenues of criminal networks remain beyond reach. Without training law enforcement in modern methods of tracking and confiscating crypto assets, and without international coordination, we risk seeing further growth of this shadow sector. The recruitment of victims and employees has already expanded beyond Asia—knowledge of European languages is becoming a mandatory requirement in job advertisements, confirming the globalization of the threat.