Report: Bitcoins worth $1.4 billion moved through mixers in 2020

In 2020, bitcoins worth $1.4 billion were sent to mixing services. This is $500 million higher than the previous year, according to a report from Crystal Blockchain, a Bitfury Group platform.

Crystal’s End of Year Report 2020 is now available! Despite the number of industries put on pause due to the COVID19 pandemic, regulation for crypto continues to be a priority, & the need for AML compliance tools remains high. Read the year in review here: https://t.co/iFAxZlQbZq pic.twitter.com/Q62fUW2EBA

— Crystal Blockchain (@CrystalPlatform) December 21, 2020

Also this year, the total value of Bitcoin obtained by darknet actors rose by $300 million, reaching $1.6 billion, of which $533 million was sent from exchanges.

Data: Crystal Blockchain.

Darknet actors also predominantly sent cryptocurrency to exchanges without KYC procedures — 46% of total transaction volume. They moved 13% of bitcoins to platforms with verification. The share of mixers stood at 20%, four times higher than in Q4 2019.

Data: Crystal Blockchain.

The aggregate value of bitcoins received by all virtual asset service providers (VASPs) in 2020 stood at $272.9 billion, versus $154.3 billion a year earlier. While the number of transactions declined from 120 million to 109 million, their average size rose, Crystal’s analysts noted.

According to a ForkLog poll, 95.5% of users do not use mixing services.

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