1 in 5 Cross-Chain Crypto Investigations Span Over 10 Blockchains
Crypto criminals are increasingly using multiple blockchain ecosystems to evade detection, with 20% of complex cross-chain investigations involving over 10 blockchains, according to Elliptic.
- A third of such investigations involve four or more blockchains
- 27% involve more than five blockchains
- Cross-chain crime volume has increased significantly in the past five years due to lower costs and more options
- Asset movement can be a tactic for laundering money and hiding funds
- Elliptic now supports tracking across 50 blockchains and over 300 bridges
- New blockchains can be added to their coverage within three weeks
Elliptic assisted in the takedown of Garantex, a Russian crypto exchange linked to criminal activities, which has since attempted to rebrand as Grinex.