The UN has revealed the scale of crypto scams in Asia: losses in 2025 exceeded $114 billion, with USDT becoming the primary tool.
The scale of organized crime in the field of cryptocurrency fraud has reached alarming proportions. According to the latest analysis conducted by experts from the United Nations Office on Drugs and Crime (UNODC), the total damage from scam operations in East and Southeast Asia, Australia, and New Zealand in 2025 amounted to between $88.3 and $114.1 billion. These are not just numbers—they are an indicator of a complete transformation of the region's criminal economy.
It is important to emphasize that these estimates are approximate, as the methodology accounts for both officially recorded losses and the presumed share of victims who, for various reasons, do not contact the authorities. For comparison, in 2023, the same indicator was estimated at $18–37 billion. Thus, the growth over two years represents an almost threefold increase, indicating the explosive nature of the expansion of fraudulent networks.
Cross-border network and money laundering infrastructure
Among the countries with the largest officially recorded losses for 2024–2025, China ($5.1 billion), the Republic of Korea ($3.5 billion), and Taiwan ($2.8 billion) lead. However, the key conclusion of the report is not just the amount of damage, but the systemic restructuring of the criminal economy. Disparate syndicates have turned into a single cross-border network with a shared infrastructure for fraud, money laundering, human trafficking, and illegal migrant smuggling. This model, according to the UNODC regional representative, resembles corporate franchising, where "specialized departments" are connected to a single service network.
Special attention in the report is given to the role of cryptocurrencies, and above all, the USDT stablecoin on the TRON network. This combination, in my opinion, has become a veritable "parallel financial system" for criminals. Thanks to nearly instant, cheap, and pseudonymous transfers, as well as the use of P2P platforms and underground banking networks, perpetrators easily bypass traditional banking controls and move funds between jurisdictions. UNODC rightly calls for training law enforcement in tracking and confiscating crypto assets, because without this, simply disrupting operations is ineffective if the proceeds remain out of reach.
Technology in the service of fraudsters
Criminal groups are actively adopting generative AI, deepfakes, and satellite communications, including Starlink. Generative AI lowers the entry barrier for complex schemes, allowing small groups to use AI translation, voice cloning, and real-time deepfake video. The 42% year-on-year increase in the use of legitimate advertising networks to distribute malware in 2025 is another alarming signal. Satellite internet, in turn, gives perpetrators independence from local operators, allowing them to operate in the most remote corners of the region.
The geography of recruitment is also expanding: people from 80 countries have been identified in scam compounds. Advertisements, presumably linked to the centers, require knowledge of German, Polish, Dutch, and other European languages. This indicates that fraudsters are targeting victims worldwide, not just in Asia.
Expert commentary: The current situation resembles an "arms race" between law enforcement and criminals. While regulators focus on shutting down individual platforms, networks simply migrate to other jurisdictions, fragment operations, and recover through new nodes. Without global coordination and the implementation of advanced blockchain analysis methods, including tracking the movement of stablecoins, effective counteraction to this threat is impossible. Investors should be extremely cautious: any offer promising easy profits, especially using cryptocurrencies, could be part of this giant fraudulent infrastructure.