Crosschain swaps move $21B in illicit funds, up 200% in two years: Elliptic
2025-07-16 08:14:07
Main Idea
Cross-chain tools like bridges, DEXs, and coin swappers are being used to obscure $21.8 billion in illicit crypto flows, a 211% increase from 2023, according to Elliptic.
Key Points
1. Illicit or high-risk crypto flows through cross-chain swaps have risen from $7 billion in 2023 to $21.8 billion, a 211% increase.
2. Blockchain bridges, DEXs, and coin swap services are increasingly used by criminals to launder funds across multiple blockchains.
3. Around 12% of decentralized finance (DeFi) users are involved in illicit activities, with DEXs being a common tool despite their transparency.
4. North Korean-linked hackers used cross-chain swaps to move stolen funds across five blockchains in a $75 million case.
5. Coin swap services, which often lack AML checks, are used for laundering, with 25% of illicit flows recycled through gambling and fraud networks.
Description
Crypto criminals are using cross-chain tools like bridges, DEXs and coin swappers to obscure $21.8B in illicit flows across multiple blockchains.
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