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Illicit Actors Drive Up Crypto Obfuscator Usage to Record High

July 14, 2022, 12:00 PM

Services used to mask crypto transactions are receiving more tokens than ever this year. But a large portion of that comes from a few illicit actors.

Crypto mixers, which are designed to preserve the privacy of blockchain users, have gained in popularity in recent years, according to a report by Chainalysis, a blockchain-analysis firm. It found that on a 30-day moving average basis, the total value of cryptocurrencies sent to mixers reached an all-time high of $51.8 million on April 19. Illicit crypto addresses accounted for nearly a quarter of all funds sent to mixers so far this year, up ...