A crown jewel for crypto money laundering is emerging, but no one is paying attention
October 22, 2019, 12:15PM EDT · 9 min read
Quick Take
- Mining pools are the least common cash-out vehicle for dark-net-market vendors, according to Chainalysis
- But experts say mining pools may actually offer professional crypto-launderers the most undetectable method
- DEA financial investigations section chief says Latin American drug cartels are becoming increasingly comfortable using crypto to transfer large sums of money across borders
- Rogue nations like North Korea and Russia are believed to have used mining pools to fund cyberattacks and evade Western financial surveillance
Using a mining pool to clean “dirty” crypto is one of the least popular methods for dark-net-market vendors, according to data from blockchain intelligence firm Chainalysis, but it might be one of the most effective for professional crypto launderers. In a confidential May 2019 compliance report authored by Chainalysis competitor Elliptic and obtained exclusively by […]
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