Record $7 billion in crypto laundered through cross-chain services
2023-10-05 • Elliptic •
https://www.elliptic.co/blog/record-7-billion-in-crypto-laundered-through-cross-chain-services
The biggest rise of cross-chain crime is apparent in the field of crypto thefts, scams and Ponzi schemes and illicit laundering perpetrated by North Korea’s Lazarus Group. Our latest figures suggest that it is fast becoming the preferred money laundering method for a range of cybercrimes, including scams and crypto thefts, as enforcement actions continue to target criminals’ traditional means of obfuscating funds. Furthermore, as we revealed elsewhere recently, enforcement actions such as seizures and sanctions are increasingly targeting traditional frontiers of crypto criminality. The value of illicit crypto laundered through cross-chain crime has reached a record $7 billion, new figures published today by Elliptic can reveal.