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And then there is a small subset of organised criminal gangs , such as North Korea ’ s infamous Lazarus Group , that utilise chain hopping via cross-chain bridges . Cross-chain bridges allow users to move funds from one Blockchain to another and last year illicit actors ’ use of these bridge protocols for money laundering purposes grew substantially .
Overall , bridge protocols received US $ 743.8 million in crypto from illicit addresses in 2023 , up from just US $ 312.2 million in 2022 .
“ The changes in money laundering strategies we ’ ve seen from cryptocriminals like Lazarus Group serve as an important reminder that the most sophisticated illicit actors are always adapting their money laundering strategy and exploiting new kinds of crypto services . Law enforcement and compliance teams can be more effective by studying these new laundering methods and becoming familiar with the on-chain patterns associated with them . Many of these methods , including chain hopping , can be traced using Chainalysis investigative solutions ,” Grauer added . �
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