A new report from Global Ledger reveals insights into how hackers move stolen crypto assets and the opportunities for tracking them.
No Clear Playbook for Laundering
According to the Global Ledger report, stolen funds often move to laundering destinations before an incident is publicly disclosed. On average, it takes 43.83 hours from the initial breach until the incident is reported. The lag between public disclosure and laundering activity averages 78.55 hours, indicating that funds are frequently on the move before a hack is widely known. 'There’s no clear playbook here, laundering usually involves wash trading or social engineering,' said Lex Fisun, co-founder and CEO of Global Ledger.
Cross-Chain Routes
The report shows that 42.23% of stolen funds were moved across chains, making them harder to trace. Lex Fisun explained that cross-chain bridges have become one of the main tools for laundering money by circumventing chain-specific monitoring. Despite government sanctions against platforms like Tornado Cash, such services continue to play a central role in post-hack laundering.
Hackers Getting Smarter
Fisun noted that slower flows through centralized exchanges do not necessarily reflect better compliance. It is both intentional, as hackers split assets and use privacy protocols. Despite advancements in analytics and monitoring tools, real-time responses remain infrequent. However, the time gaps highlighted in the report indicate that there is still room for action before stolen funds fully disappear.
The analysis underscores the need for more effective tracking and response mechanisms to hacker attacks, which may allow for the recovery of funds long after an incident occurs.
