crypto_drug_report
Russian Language Marketplaces Remain Drivers of Crypto Drug Sales: TRM Labs Report
A new report published by blockchain forensic firm TRM Labs in early 2025 outlined a major rise in crypto-fueled drug sales throughout 2024, driven largely by Russian-language darknet marketplaces. These marketplaces accounted for over 97% of illicit revenue generated through Bitcoin and TRON transactions.
Darknet Markets Generated $1.7 Billion in 2024, TRM Labs Finds
According to the TRM Labs 2025 Crypto Crime Report, Russian-language darknet marketplaces brought in more than $1.7 billion in 2024, continuing a year-over-year increase first noted in 2023. They benefit from several advantages: low enforcement pressure from Russian authorities, a dead-drop delivery system that reduces physical contact, and a focus on synthetic drugs that are easy to produce locally.
The availability of inexpensive drug precursor chemicals—primarily sourced from China—has further fueled the growth of these platforms. TRM Labs found that only four Russian-language marketplaces exited the ecosystem in 2024, out of approximately 20 operating during the year. Even after the takedown of Hydra Market in April 2022, no other major Russian-language darknet markets have been dismantled, allowing them to continue driving illicit crypto drug activity.
The findings by TRM Labs align with other investigations into the intersection of cryptocurrency and the drug trade. Last month, blockchain analytics firm Chainalysis uncovered direct financial ties between Mexican drug cartels and Chinese suppliers of fentanyl precursors through crypto transactions. Chainalysis had previously identified over $37.8 million in suspicious transfers involving suspected China-based chemical vendors.
These vendors provided the key ingredients for fentanyl, a synthetic opioid trafficked into the U.S. primarily by groups like the Sinaloa Cartel. By utilizing crypto transactions, these cartels can efficiently fund and facilitate the production of fentanyl, which is then trafficked into the United States, contributing to the ongoing opioid crisis.
TRM Labs Highlights Surge in Vendor Shop Crypto Drug Sales
The TRM Labs report also revealed that crypto use in vendor shop drug sales more than doubled in 2024, reaching over $600 million in volume. This shift was accelerated by the arrest of Telegram’s founder, Pavel Durov, in August 2024.
Telegram, once a popular platform for selling drugs due to its security and perception of non-cooperation with law enforcement, saw many of its drug vendors migrate to alternative platforms like Signal, Session, and WhatsApp. The arrest of Durov heightened fears that Telegram would start cooperating with authorities, forcing vendors to find new places to operate.
The ongoing move toward decentralized platforms suggests the crypto drug ecosystem will remain fluid, creating new enforcement challenges.
TRON Leads Illicit Crypto Transactions in 2024
TRM Labs reported that TRON accounted for 58% of illicit crypto activity in 2024, followed by Ethereum at 24% and Bitcoin at 12%. Binance Smart Chain and Polygon each made up 3%. USDT usage also surged, particularly among Latin American cartels.
A local investigation reported that groups in Mexico and Colombia relied on USDT due to its stable value and ease of transfer. Cartels reportedly used USDT to fund operations, sometimes profiting from price gaps across different crypto markets.
According to a 2024 report citing unsealed court documents, USDT was widely available in Mexico at a discount, allowing resellers to profit in countries like Colombia. While market dynamics may have shifted since, the cited data illustrates how cartels had previously exploited crypto ecosystems.
The Numbers Aren’t Just Statistics
Behind the billion-dollar figures are real consequences: lives lost to fentanyl, cities strained by addiction, and digital tools repurposed for harm. TRM Labs has provided a snapshot of an ecosystem that continues to evolve beneath the surface.
These aren’t distant problems—they are immediate, and they affect public safety, financial systems, and global cooperation. Treating crypto as neutral infrastructure misses the point when it has become a tool for scale and secrecy. Lawmakers and platforms alike will need to decide what responsibility they’re willing to accept. That answer may shape how the next wave of digital finance unfolds.
