A $114 billion scam empire: how the UN assessed the scale of crypto fraud in Asia
The scale of organized online fraud in East and Southeast Asia, as well as Australia and New Zealand, has reached astronomical levels. According to my data, obtained from analyzing a report by a relevant UN unit, the total damage from scam operations in 2025 amounted to between $88.3 and $114.1 billion. This is not just statistics — it is evidence that the region's criminal economy has transitioned to a new, industrial level.
To understand the dynamics: in 2023, similar losses were estimated at $18–37 billion. A roughly threefold increase in two years indicates a systemic problem, not isolated incidents. The leaders in registered losses for 2024–2025 were China ($5.1 billion), South Korea ($3.5 billion), and Taiwan ($2.8 billion). However, the real figures, considering unreported cases, could be several times higher.
Criminal "Franchising" and the Role of Cryptocurrencies
The key conclusion I draw from the document is a complete restructuring of the criminal economy. Disparate groups have consolidated into a cross-border network with shared infrastructure. This is not just about scam call centers. It is a unified platform for money laundering, human trafficking, illegal migration, and data collection. Experts compare this model to corporate franchising, where each "department" provides services to the common network.
Cryptocurrencies, primarily USDT on the TRON network, have become the settlement infrastructure of this shadow empire. This combination has created a parallel financial system for nearly instant, cheap, and pseudonymous transfers. Through P2P platforms and underground brokers, criminals easily convert fiat into stablecoins and back, bypassing bank controls. I have repeatedly emphasized that it is the simplicity and speed of USDT transactions that make it an ideal tool for such schemes.
Technology at the Service of Fraudsters
Criminal networks are actively adopting innovations. Generative AI, deepfakes, and encrypted messengers allow them to scale attacks and bypass checks. The use of legitimate advertising networks to spread phishing has increased by 42% in a year. Even satellite internet, including Starlink, is used to provide communication in remote areas, reducing dependence on local authorities.
The geography of recruitment is also expanding. Citizens of at least 80 countries have been found in scam centers. Employers are looking for people who speak German, Polish, Spanish, and other European languages, indicating preparations for attacks on Western audiences.
My professional conclusion: current law enforcement measures are clearly lagging behind the speed of adaptation of criminal networks. Simply shutting down individual centers is ineffective — the infrastructure quickly migrates to other jurisdictions. The key challenge is to learn how to track and confiscate crypto assets; otherwise, criminals' profits will remain out of reach, and the scam industry will continue to grow.