There are between 100 and 200 gambling sites on the Internet that focus on cryptocurrencies. Criminals can establish accounts on these sites and then transfer funds for laundering to them. They will make simple bets, or even in some cases, withdraw funds to a new address without any bets at all. This helps to create a break in the fund’s flow trace that acts in many ways like a currency mixer.
Because these gambling sites have little to no “Know Your Customer” (KYC) regulation, it is difficult for law enforcement to obtain information about the funds transfers into and out of these services.
An example list of cryptocurrency gambling sites is available on
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