Cryptocurrency Analysis and News Portal
The U.S. Treasury Department is currently pushing for new rules that enhance monitoring and reporting capabilities on virtual currency mixers leveraged by illicit actors and terrorist groups. On Oct. 19, the Wall Street Journal reported that President Biden’s administration is set to designate crypto mixers as a threat to national security.
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FinCEN said that mixing services, which seek to allow users to conduct transactions with anonymity, are used by a "variety of illicit actors throughout the world," referring by name to Hamas, Palestinian Islamic Jihad and the Democratic People's Republic of Korea (DPRK). The agency said this proposed rule is a
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The United States Senate passed the 2024 National Defense Authorization Act (NDAA) worth $886 billion on July 27. The bill includes a provision targeting crypto mixers, anonymity-enhancing coins and institutions engaging in crypto trading.The NDAA is a bill that helps authorize how the country’s defense department can utilize federal funding.
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Although the funds always came to the exchange via intermediary wallets, Chainalysis found instances in which the wallet receiving ransomware proceeds sent funds directly to the mining pool wallet, which then sent the coins to the exchange. This might mean that both the ransomware- and mining-related wallets belong to the
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While good actors within the crypto space channel their creativity toward building new things, bad actors use the same energy to devise more ingenious ways to hide their ill-gotten gains. A new report from blockchain analytics firm Chainalysis shows how wallets involved in ransomware attacks are turning to crypto mining pools
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When the U.S. government sanctioned coin mixer Tornado Cash, many thought it might spell the end for illicit crypto mixing services. But they’re back — and with a glossy new institutional sheen and legit use cases to help
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30 cryptocurrency wallets linked to Alameda Research, the bankrupt sister company of crypto exchange FTX, became active on Dec. 28 following four weeks of inactivity. These wallets swapped and mixed over $1.7 million worth of crypto assets through various crypto-mixing services.Crypto mixers are often used by market exploiters and criminals
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Cryptocurrency mixing services are a divisive subject in the industry. Some advocate for the privacy-enabling features of these protocols while others maintain that they are mainly used for illicit means.For platforms like Tornado Cash, the mainstream verdict is “guilty as charged.” The infamous decentralized mixing protocol was sanctioned by the United
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"We're really looking at the multiplier effect, so mixers, tumblers and money laundering are important because they have a multiplier effect, they facilitate all sorts of criminal activities, different sorts," she said. "By making sure that we are addressing ... that activity, [we will] hopefully lessen the impact of crypto
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Elizabeth Rosenberg, the assistant secretary for terrorist financing and financial crimes at the United States Department of the Treasury, suggested sanctioning cryptocurrency mixers could help strengthen the government’s response to foreign entities looking to use digital assets for illicit means. In a Tuesday hearing of the Senate Banking Committee, which covered
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