criminal organizationmoney launderingsanctions avoidance

renbridge

publicOnline
2
Bounties
43.96 MATIC
In bounties

About

RenBridge is pitched as a way to easily convert virtual currencies like ZCash and Bitcoin to the Ethereum network and then to other blockchains.

Threat

Hackers, fraudsters, and others have laundered at least $540 million through the cryptocurrency bridge network RenBridge since 2020, according to blockchain analysis group Elliptic. Elliptic’s report suggests RenBridge was used to launder money stolen from Japan’s Liquid crypto network, a hack linked with North Korea. It also claims RenBridge is popular among Russia-linked ransomware operations, saying $153 million in ransomware was laundered through the service.

Operates in

  • Online