Elliptic: Hackers Laundered Over $540M Through Cross-chain Bridge RenBridge

According to analysts at analytical firm Elliptic, cross-chain bridge RenBridge has been used by criminals to launder over half a billion dollars.

According to them, since 2020, about $540 million received through theft, fraud, ransomware and other types of criminal activity have been laundered through RenBridge.

Among them are crypto assets stolen from exchanges and DeFi services worth at least $267.2 million, including $33.8 million stolen from Liquid.

Unknown persons also sent to RenBridge part of the funds received from the attack on the cross-chain protocol Nomad.

The bridge is also often used by ransomware operators.