Ransomware Hackers Launder Money Through Mining New Coins, Says Chainalysis

06/15 13:15

June 15 (Huobi) - Blockchain analytics firm Chainalysis has reported that ransomware hackers are using mining pools to launder their funds. The firm identified 372 exchange deposit wallets that received both mining profits and ransomware proceeds, totalling $158.3m since 2018. Chainalysis suggests that mining pools may play a key role in ransomware actors’ money laundering strategies, with funds from ransomware-related wallets increasingly being sent to mining pools. The mining pool then acts as a mixer, obfuscating the origin of funds and creating the illusion that the funds are proceeds from mining rather than from ransomware.

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