New Elliptic research uncovers the true scale of cross-chain crime, as North Korean hackers and criminals adopt new crypto laundering tactics.
LONDON and NEW YORK, Oct. 5, 2023 /PRNewswire/ -- Elliptic, the global leader in blockchain analytics solutions, today released its 2023 edition of the landmark report, 'The State of Cross-chain Crime'.
- The report reveals that $7 billion of illicit or high risk funds has been laundered through cross-chain and cross-asset services, with North Korean hackers, the Lazarus Group, responsible for $900 million of cross-chain crime.
- At that time, the company predicted that this figure would rise to $6.5 billion by the end of 2023 and $10.5 billion by 2025.
- Criminals are using more complex cross-chain methods – such as derivatives trading and limit orders – to obfuscate their laundering activities.
- For more information on the findings of the report, please contact the Elliptic team.