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Nearly $4 Billion has been laundered through decentralized exchanges (DEXs).
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With over 22K crypto assets in the market, only a handful of them are operating legitimately.
Gary Gensler, the Securities and Exchange Commission (SEC) chair, once called the crypto sector “rife with fraud and hucksters”. After a new study on crypto sector fraud, the statement might make sense. Elliptic, a blockchain analytics company, reports that $7 Billion worth of cryptocurrencies were laundered via cross-chain services. Cross-chain crime involves the transfer of funds in rapid succession to obscure transactions.
Cross-Chain Services Becomes Preferred Mean of Exploits
The report highlights that cross-chain bridges are becoming the preferred money laundering method for a variety of cybercrimes. Elliptic attributes findings from their report namely “State of Cross-chain Crime”. The initial report found nearly $4 Billion has been laundered through decentralized exc
We współpracy z: https://www.thecoinrepublic.com/2023/10/09/alarming-metrics-for-users-using-cross-chain-crypto-services/
