Crypto risk management firm Elliptic revealed the total amount of illicit funds laundered through decentralized exchanges (DEXs), cross-chain bridges, and coin swap services has soared to $7 billion.

“Our latest figures suggest that it is fast becoming the preferred money laundering method for a range of cybercrimes,” the report stated.

Cross-Crime Crypto Laundering Exceeds Predicted Growth

A recent report shows that the latest data has exceeded Elliptic’s earlier predictions:

“We estimated then that this $4.1 figure would rise to $6.5 billion by the end of 2023 and $10.5 billion by 2025. Our latest calculation of $7 billion, however, shows that cross-chain crime is rising at a faster rate than predicted.”

Crypto money laundering predominantly involves the act of swapping cryptos between different tokens and blockchains, often referred to as cross-chain criminal activity.

Criminals use this method to conceal funds acquired through various means, including scams and crypto the

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Author: Ciaran Lyons

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