Elliptic, the firm which Wall Street Journal sourced the data from, said it was “pleased” to see the news outlet acknowledge its mistakes. The Wall Street Journal (WSJ) has partially corrected an article whic mischaracterized the extent to which Hamas and other militant groups have been funding its terrorism activities with cryptocurrencies. The Oct. 10…
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Close to a year has passed, and the hacker responsible for the staggering $477 million heist from the now-defunct crypto exchange FTX still remains elusive. Yet, Elliptic, a leading blockchain analytics firm, has meticulously mapped the intricate journey of the stolen funds, shedding light on the culprit’s attempts to launder and mask their activities. Allegedly,…
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According to the findings of a research study by Elliptic, cybercriminals are believed to have used crypto cross-chain bridges and coin swap services to launder $7 billion worth of “illicit or high-risk funds.” The Lazarus Group, a cybercriminal organization said to be backed by North Korea, is “responsible for $900 million of cross-chain crime.” Bad…
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A recent report from blockchain surveillance firm Elliptic has uncovered that $7 billion in “illicit or high-risk funds” has been laundered through decentralized exchanges (DEXs), cross-chain bridges, and non-KYC exchanges. This staggering sum was already reached by July of this year, exceeding Elliptic’s prediction from last year that such activities would amount to $6.5 billion…
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The sanction of cryptocurrency mixer Tornado Cash in August caused the first major shift, but that is now accelerating even faster than projected. Cybercriminals have accelerated their shift away from crypto mixers for cross-chain bridges over the past year, according to blockchain forensics firm Elliptic. In June and July, nearly all of the crypto stolen…
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Chinese chemical producers are accepting cryptocurrency as payment for fentanyl ingredients they sell to drug organizations worldwide. Researchers at crypto analytics platform Elliptic have found over 90 Chinese chemical companies that sold fentanyl precursor chemicals and advertised their products on the open web, 90% of which offered to accept payment in cryptocurrencies like Bitcoin (BTC) and Tether (USDT)…. Read More: Fentanyl Ingredients Sold…
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Stolen loot crypto from Atomic wallets has started passing through sanctioned Russian-based exchange Garantex, according to Elliptic. Illicit funds gained from the $35 million Atomic Wallet hack are on the move again, with sanctioned Russian-based crypto exchange Garantex reportedly becoming the latest to come in contact with the hacked crypto. On June 13, blockchain security…
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Blockchain analytics company Elliptic said it’s going to use Openai’s Chatgpt to support its intelligence gathering and research. The AI-based language model will allow its experts to speed up and expand the analysis of new risks related to crypto assets. Blockchain Forensics Firm Elliptic to Employ Chatgpt London-headquartered Elliptic, a leader in blockchain analysis and…
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An Elliptic report commissioned by Nikkei says Asian countries account for over 60% of losses to North Korean hackers and ransomware users; lax security played a role. Japan is the biggest loser of cryptocurrency to North Korean hackers, according to a study by blockchain analytics firm Elliptic. Asian countries make up three of the four…
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The two sides in the bitter conflict in Ukraine have been relying on crypto assets and technology to support their military and humanitarian activities, Elliptic says in a report. According to the blockchain forensics company, the targeted nation has attracted more digital asset donations than the invading power. Ukraine Supporters Sent Over $212 Million in…
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