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This shift in focus from DeFi to centralized services highlights the increasing importance of securing mechanisms commonly exploited in hacks, such as private keys. Private key compromises accounted for the largest share (43.8%) of stolen crypto in 2025, with North Korean hackers stealing more from crypto platforms than ever Illicit or high-risk crypto-asset funds worth around $7 billion have been laundered via conversions across multiple blockchains, said the cryptocurrency analytics The rise in popularity of crypto and defi (decentralized finance) has also led to a rise in money laundering. According to a new report by Elliptic, crypto money laundering via cross-chain According to a new report by Elliptic, crypto money laundering via cross-chain services has reached a record-breaking $7 billion. According to the report, from July 2025 to According to the findings disclosed on Thursday, illicit funds dipped from $31.5 billion in 2025 to $22.2 billion in 2025, marking a notable reduction of approximately $9.3 London, UK, Octo: The value of illicit crypto laundered through cross-chain criminal activities has surged to a record-breaking $7 billion, according to a newly In this report, we aim to broaden our analysis of money laundering to encompass not only crypto-native money laundering, but also suspicious transaction patterns

Crypto DeFi Laundering Reaches Record-Breaking $7 Billion: Cross-Chain Services Fuel Illicit Activity

London, UK, Octo: The value of illicit crypto laundered through cross-chain criminal activities has surged to a record-breaking $7 billion, according to a newly released report. This alarming figure underscores the growing concern surrounding money laundering within the decentralized finance (DeFi) space.

According to a new report by Elliptic, crypto money laundering via cross-chain services has reached a record-breaking $7 billion. The rise in popularity of crypto and defi (decentralized finance) has also led to a rise in money laundering. According to the report, from July 2025 to [Date Redacted for Accuracy], illicit or high-risk crypto-asset funds worth around $7 billion have been laundered via conversions across multiple blockchains, said the cryptocurrency analytics firm.

Cross-Chain Conversions: A Laundering Hotspot

The report highlights the increasing sophistication of money laundering techniques within the crypto ecosystem. Criminals are leveraging cross-chain services, which allow for the seamless transfer of digital assets between different blockchains, to obscure the origin and destination of illicit funds.

According to a new report by Elliptic, crypto money laundering via cross-chain [services] has reached a record-breaking $7 billion.

Shift from DeFi to Centralized Services & the Rise of Private Key Compromises

This shift in focus from DeFi to centralized services highlights the increasing importance of securing mechanisms commonly exploited in hacks, such as private keys. Private key compromises accounted for the largest share (43.8%) of stolen crypto in 2025, with North Korean hackers stealing more from crypto platforms than ever before. Security vulnerabilities in both DeFi protocols and centralized exchanges are being exploited to facilitate the laundering of stolen crypto assets.

Overall Illicit Activity Declines but Laundering Persists

While overall illicit activity appears to be decreasing, the $7 billion laundered through cross-chain services represents a significant concern. According to the findings disclosed on Thursday, illicit funds dipped from $31.5 billion in 2025 to $22.2 billion in 2025, marking a notable reduction of approximately $9.3 billion. However, the sophisticated techniques employed in cross-chain laundering necessitate increased vigilance and enhanced regulatory scrutiny.

Analyzing Suspicious Transaction Patterns

In this report, we aim to broaden our analysis of money laundering to encompass not only crypto-native money laundering, but also suspicious transaction patterns. Identifying and tracking these patterns is crucial to combatting illicit activities within the cryptocurrency space.

Moving forward, enhanced collaboration between cryptocurrency analytics firms, law enforcement agencies, and regulatory bodies is essential to effectively address the growing challenge of crypto DeFi laundering.

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