The use of Bitcoin mixing services in the darknet, which allow users to hide their tracks and thus maintain their anonymity, has jumped during the first quarter of 2020, according to the latest data published by blockchain analysis service Bitfury Crystal.
Per the analyses, the use of Bitcoin transaction mixing services in the darknet surged between the last quarter of 2019 and the first quarter of 2020.
In dollar terms, we have observed a 294% increase.
According to the report:
"The amount of bitcoin sent to mixers by darknet entities rose significantly this year — from 790 total Bitcoin in Q1 2019 to 7,946 Bitcoin in Q1 2020. The same growth was also observed in USD — an increase from $3m in Q1 2019 to $67m in Q1 2020. This indicates a rapid adoption of crypto mixing services by darknet entities.
The data was gleaned from tracing both direct and indirect bitcoin transactions between clusters owned by darknet entities, as well as non-darknet and unidentified entities."
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.