RussiaBitcoin North Korea, Russia using crypto mixers to launder money Don't be scammed: North Korea, Russia using crypto mixers to launder money Crypto mixers: North Korea and Russia's way of laundering money

North Korea, Russia using crypto mixers to launder money Don’t be scammed: North Korea, Russia using crypto mixers to launder money Crypto mixers: North Korea and Russia’s way of laundering money

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-The total amount sent to cryptocurrency mixers reached an all-time high of US$51.8 million in April 2022, including a significant portion coming from sanctioned and state-backed actors, a report last week by Chainalysis showed.

-The blockchain analytics firm tracked a 30-day moving average of all funds sent to mixers over time and found Aprils figures to be roughly double the value from the same period last year.

-Mixers allow clients to add their cryptocurrency into a communal pool and withdraw the same amount minus a fee in different tokens to the ones they contributed. This makes it extremely difficult to trace the flow of funds, making it very attractive to those engaged in illicit activity in an industry where everything is recorded on the blockchain.

-The total amount sent to cryptocurrency mixers reached an all-time high of US$51.8 million in April 2022, including a significant portion coming from sanctioned and state-backed actors, a report last week by Chainalysis showed.

-The blockchain analytics firm tracked a 30-day moving average of all funds sent to mixers over time and found Aprils figures to be roughly double the value from the same period last year.

-Mixers allow clients to add their cryptocurrency into a communal pool and withdraw the same amount minus a fee in different tokens to the ones they contributed. This makes it extremely difficult to trace the flow of funds, making it very attractive to those engaged in illicit activity in an industry where everything is recorded on the blockchain.

 

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