BitcoinWarrior

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Criminals turn to cross-blockchain tools to hide billions in cryptocurrencies

Published by
City AM

By Louis Goss Criminals are using complex new blockchain technologies to hide and launder billions in ill gotten gains. At least $4bn (£3.6bn) worth of illicit crypto-assets has been laundered via various “cross-chain” technologies, that let both legitimate and illegitimate users move funds between blockchains, analytics firm Elliptic said. Decentralised exchanges (DEXs), cross-chain bridges, and coin-swap services are being used for money laundering due to the extra levels of anonymity they provide. The cross-chain technologies give hackers, sanctions avoiders, and cybercriminals new opportun…

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