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Chainalysis: Most Active Users of Crypto Mixers Were Cybercriminals

ByLouis Adams

Jul 18, 2022 #Bitcoin
Reading time: < 1 minute

According to the latest report release by analytical company Chainalysis, cryptocurrency mixers’ activity in 2022 has doubled compared to last year.

In April, the 30-day moving average reached an all-time high of $51.8 million. According to the company’s experts, the most active users of mixers this year were cybercriminals and those under government sanctions:

“Illegal addresses account for 23% of funds sent to mixers in 2022, up from 12% in 2021.”

The analysts have noted there are many legitimate reasons for using mixers, including trading cryptocurrencies under a repressive government or anonymizing legitimate but confidential transactions:

“However, the core functionality of such services, combined with the fact that they rarely request KYC information, makes them attractive to cybercriminals.”