Report: Crypto criminals laundered $540 million by using a service called RenBridge

08/10 13:23

RenBridge has been used to launder at least $540 million in crime-related crypto cash since 2020, according to new research from blockchain analytics firm Elliptic. Cross-chain bridges are used to send digital assets across blockchains, bypassing a centralized service that can trace transactions. “They’re effectively ungoverned, and so very vulnerable to hacks, or to being used in crimes like money laundering,” said David Carlisle, Elliptic’s vice president of policy and regulatory affairs.
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