A crown jewel for crypto money laundering is emerging, but no one is paying attention

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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Aug 11, 2021, 5:18PM UTC