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CINA Research Findings with Tom Holt: “Understanding Cryptomixing Services in Context of the Open and Dark Web”

May 10, 2023

The findings presented during this webinar are informed by work led by Dr. Thomas J. Holt (Michigan State University) through an active CINA project, “Understanding the Economy and Social Organization of the Underground Market for Cybercrime as a Service.”

The Internet has become a popular marketplace for the sale of illicit products, including stolen personal information, drugs, and firearms. Many of these products are purchased using cryptocurrencies, which is generally defined as forms of digital currency that are traceable through blockchain ledger technology. Cryptocurrencies are thought to be more secure than other forms of digital payment, though law enforcement and financial service providers have found ways to investigate account holders and their transactions. Consequently, several service providers have begun to offer cryptomixing services, which effectively launders payments to circumvent detection and investigation tools. Few have explored the practices of cryptomixing services, or the ways in which they are marketed on the Open and Dark Web. This inductive qualitative analysis will examine a sample of 18 cryptomixing services advertised on both the Open and Dark Web to better understand cryptomixing and its role in facilitating illicit transactions in various contexts.

Investigators:

  • Thomas Holt
  • Olga Smirnova

Related Project:

  • Understanding the Economy and Social Organization of the Underground Market for Cybercrime as a Service

Topics:

  • Dark web

Research Areas:

  • Criminal investigative processes
  • Criminal network analysis
  • Dark web

*The programs and services offered by George Mason University are open to all who seek them. George Mason does not discriminate on the basis of race, color, religion, ethnic national origin (including shared ancestry and/or ethnic characteristics), sex, disability, military status (including veteran status), sexual orientation, gender identity, gender expression, age, marital status, pregnancy status, genetic information, or any other characteristic protected by law. After an initial review of its policies and practices, the university affirms its commitment to meet all federal mandates as articulated in federal law, as well as recent executive orders and federal agency directives.

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