Elliptic and Royal Thai Police Identify $520 Million Suspicious Crypto Network

Elliptic and the Royal Thai Police’s Technology Crime Suppression Division (HTCD) said they uncovered a suspicious cryptocurrency transaction network totaling $520 million after reviewing more than 500 reported wallets. According to NS3.AI, Elliptic linked the wallets involved to nearly $14 million in losses reported by individual victims. Elliptic said the proceeds were distributed across 32 blockchains.