Ransomware actors and cryptocurrency scammers have joined nation-state actors in using cloud mining services to launder digital assets, new findings reveal.
Earlier this March, Google Mandiant disclosed North Korea’s use of the hash rental and cloud mining service to obscure the forensic trail and wash the stolen cryptocurrency clean.
Cloud mining services allow users to rent a computer system and use that computer’s hash power to mine cryptocurrencies without having to manage the mining hardware themselves.
Overall, the data suggests that mining pools may play a key role in many ransomware actors’ money laundering strategy, Chainalysis said.
Crypto scammers and money launderers working on their behalf are also using mining pools as part of their money laundering process, the company said.
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