Cryptocurrency Mining Pools and Crypto Money Laundering

However, nation state actors aren’t the only ones using crypto mining to enhance their money laundering capabilities. Below, we’ll look at examples of ransomware actors and crypto scammers who appear to be using mining pools for money laundering, and estimate this activity at scale. In total, 372 exchange deposit addresses have received at least $1 million worth of cryptocurrency from mining pools and any amount from ransomware addresses. Overall, the data suggests that mining pools may play a key role in many ransomware actors’ money laundering strategy. As is the case with ransomware, the data suggests other crypto scammers and money launderers working on their behalf are also using mining pools as part of their money laundering process.