Elliptic Report Finds Cross-Chain Crime Up 200 Heres Where Hackers Hide Now

A new report from Elliptic, a digital asset risk management firm, reveals a significant increase in cross-chain criminal activity, reaching over $21 billion in 2025, a threefold jump from $7 billion in 2023. Criminals are increasingly using decentralized exchanges, cross-chain bridges, and token swaps to hide the origin of stolen funds from scams, hacks, and sanctioned entities. About 33% of crypto crime investigations now involve activity on more than three blockchains. State-backed groups, like North Korea's Lazarus Group, account for around 12% of the total illicit activity, using advanced methods to make tracing stolen assets very difficult. Elliptic also reported $300 million in cross-chain transfers originating from Iranian crypto services under U.S. sanctions. The Garantex exchange in Russia, seized in March 2025, was found to be using cross-chain tools to bypass international restrictions. Scams, including the collapse of the $LIBRA token and the CBEX platform, are also exploiting multi-chain strategies to quickly steal funds before authorities can react.