Cross-Chain Crypto Crimes Triple, Surpassing $21 Billion

Elliptic’s report indicates that illicit cross-chain flows reached $21.8 billion in 2025, tripling the 2023 figures. The Bybit hack, identified as this year’s largest crypto heist, involved sophisticated laundering techniques across multiple chains. Key cryptocurrencies involved include ETH, BTC, and popular stablecoins such as USDT and USDC.

Elliptic’s lead crypto threat researcher, Arda Akartuna, highlights the challenges of a multichain ecosystem. Notable contributors to these crimes include North Korean hackers and sanctioned Iranian entities, showcasing a diverse and complex landscape. DeFi protocols, DEXs, and cross-chain bridges are frequently exploited, with multi-chain activity involving multiple blockchain networks.

This surge impacts market stability, prompting financial institutions to reassess their security measures. Regulatory bodies like the FBI have noted rising consumer losses, emphasizing collaboration with firms like Elliptic. Technological developments in asset tracing and blockchain analytics are spotlighted as crucial tools in mitigating such crimes.

Experts warn of persistent threats and argue for robust regulatory frameworks. Meanwhile, technological advancements present both challenges and opportunities for law enforcement agencies globally.

Arda Akartuna, APAC Lead Crypto Threat Researcher, Elliptic, commented: “When you look back, let’s say a decade ago, the primary cryptocurrencies and blockchains out there were Bitcoin and Ethereum and a few others. It’s an increasingly multichain ecosystem…”