Elliptic Report Finds Cross-Chain Crime Up 200 – Here’s Where Hackers Hide Now
2025-07-16 18:29:45
Main Idea
Elliptic's 2025 report reveals a 200% increase in cross-chain crime, with illicit crypto activity reaching $21 billion, driven by state-backed threats, scams, and sophisticated laundering techniques.
Key Points
1. Cross-chain crime has surged to over $21 billion in 2025, a threefold increase from $7 billion in 2023.
2. North Korean-linked activity, primarily by the Lazarus Group, accounts for around 12% of the total illicit funds.
3. State-backed actors and sanctioned platforms like Garantex and CBEX use cross-chain tools to hide fund flows and bypass restrictions.
4. The 2024–2025 memecoin boom facilitated fraud, including rug pulls like the $LIBRA token scam involving $100 million.
5. Elliptic's research highlights the use of decentralized exchanges (DEXs), cross-chain bridges, and no-KYC swap services to obscure illicit fund origins.
Description
Cross-chain criminal activity has soared to over $21 billion, according to new research from Elliptic, a leading digital asset risk management firm. New Elliptic report: The state of cross-chain crime 2025 Great news! Our latest report, The state of cross-chain crime 2025, is now available. Cross-chain crime, the anonymous movement of illicit crypto through DEXs, cross-chain bridges and no-KYC swap services, has… pic.twitter.com/7jjIvE8NhB — Elliptic (@elliptic) July 16, 2025 The figure marks a ...
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