The rising use of mixers in the crypto space draws public attention. Criminals and their illicit activities are being accused of involving in this situation, according to Chainalysis.
“Nearly 10% of all funds sent from illicit addresses are sent to mixers — no other service type cracked a 0.3% mixer sending share.”
Since mixers render enhanced privacy in crypto transactions, cybercriminals, such as hackers can abuse them when obfuscating the source of funds.
A study researched by Chainalysis pointed out that the demand for mixers hit an all-time high in 2022 based on their aspect of creating a disconnection between the crypto funds deposited and those withdrawn. Therefore, this makes the traceability of the flow of funds difficult because they are pooled together and mixed randomly.
The analytic firm pointed out:
“While value received by mixers fluctuates significantly day-to-day, the 30-day moving average reached an all-time high of $51.8 million worth of cryptocurrency on April...
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