crypto Get your crypto ready for a mixer!

Get your crypto ready for a mixer!

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– The 30-day moving average of value received by mixers reached an all-time high of nearly $52 million worth of crypto on April 19, according to a report by Chainalysis published Thursday.
– Illicit addresses account for 23% of funds sent to mixers so far in 2022, up from 12% last year.
– Mixers or tumblers, such as Tornado Cash, are services providing users the ability to conceal the transaction history of certain cryptocurrencies by pooling and mixing them together with other users funds.
– Chainalysis Director of Research Kim Grauer said the most striking takeaway of the report was the large rise in mixer usage by the North Korea-linked cybercriminal groups.
– Several mixers including Tornado Cash and other decentralized finance platforms are taking advantage of privacy-preserving technology, such as zk-SNARK, to ensure anonymity remains intact, NetSPI Chief Technology Officer Travis Hoyt said.
– Grauer said that mixers in the US, like other crypto companies, are required to register as money services businesses (MSBs) under the Financial Crimes Enforcement Networks guidance.
– But Chainalysis is unaware of any mixers currently following regulations around anti-money laundering and combating the financing of terrorism that MSBs are subject to in most jurisdictions, Grauer added.

 

 

crypto Get your crypto ready for a mixer!
Get your crypto ready for a mixer! 3

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