The Rise of Crosschain Swaps in Illicit Fund Movements
Recent findings by Elliptic, a UK-based blockchain analytics firm, reveal a 211% surge in crosschain swaps for moving illicit funds, reaching $21.8 billion in 2025. This stark rise from $7 billion in 2023 highlights the growing sophistication of crypto criminals. Crosschain laundering now involves tools like bridges, decentralized exchanges (DEXs), and coin swappers to obscure activities across multiple blockchains.
How Criminals Evade Detection with Crosschain Techniques
Criminals use structured and multi-hop chain-hopping to frustrate investigators. These methods split funds across blockchains or move assets repeatedly, despite high fees. North Korea accounts for 12% of these flows, but smaller criminals also adopt these tactics.
Challenges in Tracing Illicit Crypto Flows
The expanding blockchain ecosystem offers more laundering avenues. Tools like Elliptic Investigator and Chainalysis Storyline help, but tracing remains tough. Experts stress the need for better tracking technologies.
