Chainalysis: Russian Crypto Platforms Dominate Darknet

According to Chainalysis, Russian exchanges and platforms rank at the top for servicing darknet markets and illicit transactions. Experts suggest some of these sites are tied to crypto miners laundering coins through homemade pools. Western authorities have already sanctioned a number of these channels.

Despite bans, trades persist via VPNs and other anonymizing tools. Chainalysis notes that Russian-speaking groups adopt increasingly complex methods, including decentralized exchanges.

Major exchanges, wary of secondary sanctions, have cut off Russian users. But this hasn’t resolved the issue, as the shadow sector shifts to P2P deals and intricate routing techniques.