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Crosschain swaps move $21B in illicit funds, up 200% in two years — Elliptic

Crypto criminals are using crosschain tools such as bridges, DEXs and coin swappers to obscure $21.8B in illicit flows across multiple blockchains.

Source: cointelegraph.com (Read Full Article)

💡 DMK Insight

DMK Insight: The rise of crosschain tools in the crypto space has inadvertently provided a new avenue for illicit activities, complicating the landscape for regulators and law enforcement. As criminals exploit these technologies to mask their transactions, it underscores the urgent need for enhanced security measures and regulatory frameworks to safeguard the integrity of blockchain ecosystems. This trend could lead to increased scrutiny and potential crackdowns on decentralized finance platforms if not addressed proactively.

📮 Takeaway

Investors should stay informed about regulatory changes affecting crosschain tools and their implications for market integrity.

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