Bitrace says over $174.9 billion in stablecoins reached high-risk addresses in H1 2026
Bitrace’s crypto crime report for the first half of 2026 said more than $174.9 billion in stablecoins flowed to high-risk addresses tied to six areas: online gambling, money laundering, gray and black market trading, fraud, sanctions and freezes. The report said the figures exclude HTX-related hot wallets and user addresses from sanctions statistics because of what it described as overly aggressive sanctions activity by the UK Foreign, Commonwealth and Development Office, or FCDO, while activity linked to Huione Group and Xinbi Group remained classified under gray and black market trading to avoid double counting. The report also highlighted several major developments across the period. Potato Guarantee shut down its public-group business in January, with demand shifting quickly to Xinbi Guarantee. The UK sanctioned Xinbi Guarantee on March 26 and HUOBI GLOBAL S.A., the entity behind HTX, on May 26. Bitrace also pointed to two major hacks that it said were tied to state-backed actors: the $285 million Drift Protocol attack on April 1 and the roughly $292 million KelpDAO LayerZero bridge theft on April 18. Together, those incidents accounted for about 60% of all security losses in the first half. Across specific categories, Bitrace said gambling-linked addresses received more than 57.4 billion USDT, laundering-linked addresses handled more than 20 billion USDT, gray and black market trading addresses took in more than 77.3 billion USDT, and fraud-linked addresses received more than 16 billion USDT. It also said Tether and Circle recorded 3,192 freeze events in the period, affecting 2,576 unique blockchain addresses and freezing more than $1.5 billion in stablecoins.








