New Report Shows Criminals Are Mixing Crypto Streams to Conceal Revenue

A new report said online criminals are the main demographic using services that make crypto transactions less traceable. Mixers, AKA tumblers, are a tool that collects funds distributed by multiple users and then jumbles them up before lettering each user to withdraw the original amount they put in, minus a service fee. North Korean-affiliated cybercriminals were using mixers to try and conceal the most amount of funds compared to any other group. North Korea-affiliated groups like the Lazarus Group accounted for 30% of all sanctioned entities who sent funds to mixers this year. Despite the price of crypto remaining far lower than its mid-2021 peak, the rate of crypto crimes has only increased in recent months. The report points out some mixer services have been called out for illicit activity Source