Mysterium Network Due Diligence

Run due diligence on Mysterium Network: check compliance and get alerts when suppliers change.

Switzerland · mysterium.network · 7 vendors

NetSys Inc., operating as Mysterium Network, provides an open-source decentralized virtual private network (dVPN) and peer-to-peer infrastructure protocol. It enables censorship-resistant and privacy-focused internet access globally, allowing users to bypass geo-restrictions and surveillance. The network incentivizes individuals to share their spare bandwidth by running nodes, contributing to a distributed network for secure and anonymous online activity.

Resilience scores

Digital Sovereignty: 0
Digital Resilience: 9
Financial Resilience: 5

Technology vendors

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and 5 more

Services catalogue

1 service in catalogue across 1 category; runs on 7 sub-vendors.

Decentralized VPN Infrastructure

Insights

Last updated 2026-08-14 · revision 1

7 direct vendors, 95 subvendors

Direct vendors by controlling owner country (sample)

India: 1
United States: 4
Israel: 1

Subvendors by controlling owner country (sample)

Sweden: 5
Netherlands: 2
Poland: 1

Compliance

9 in-scope frameworks identified; showing 3.

Financials

Three-year financials

2024:
2023:
2022:

Financial Resilience Score: 5/10

Mysterium Network, operated by BlockDev AG (Zug, Switzerland), presents a mixed financial resilience profile that is difficult to fully assess due to the absence of publicly disclosed financial statements. As a private Swiss AG, the company is not obligated to publish annual accounts, and no revenue, EBIT, or equity figures are available in the public domain. The only confirmed capital raise is the 2017 ICO which raised approximately USD 14 million. On the positive side, the project has demonstrated longevity since 2017, surviving multiple crypto down-cycles which suggests prudent treasury management. The network shows meaningful operational traction with approximately 22,000 active nodes, ~67,000 daily active sessions, ~1 PB monthly traffic, and coverage in 135+ countries. Recurring on-chain revenue flows through the MYST token, and the ecosystem is diversified across multiple partners (Avado, Dappnode, Nebra, GoProxies, Storj, Parsiq, Polygon, Kryptex, Crankk) and product lines (MysteriumVPN, PortalsVPN, B2B residential proxy). However, significant risks weigh on resilience: complete financial opacity prevents runway assessment; treasury is likely exposed to crypto market volatility given MYST's small market cap and thin trading; regulatory pressure on VPN/proxy services is increasing (EU DSA, national anti-circumvention laws); and competition is intense from both traditional VPN incumbents (Nord, Express, Proton) and other dVPNs (Sentinel, Orchid, Deeper). A midpoint score reflects operational continuity balanced against undisclosed financials and crypto-market dependency.

Key strengths: Operational since 2017, having survived multiple crypto downcycles, 2017 ICO raised approximately USD 14 million, Live network with ~22,000 active nodes and ~67,000 daily sessions, Coverage in 135+ countries with ~1 PB monthly traffic, Diversified partner ecosystem (Avado, Dappnode, Nebra, GoProxies, Storj, Polygon), Multiple revenue vectors: consumer dVPN, B2B residential proxy, node ecosystem fees

Risk factors: No published financial statements; cash runway and profitability unknown, Treasury denominated partly in MYST/ETH/stablecoins, exposing balance sheet to crypto volatility, MYST market cap in low tens of millions USD and thinly traded, Regulatory scrutiny on VPN and residential-proxy services (EU DSA, anti-circumvention laws), Intense competition from traditional VPN incumbents and other dVPNs, Revenue model concentrated on continued MYST token utility demand, No disclosed venture funding rounds since the 2017 ICO

Revenue by geography

Global (135+ countries, no breakdown disclosed): 100%

Revenue by product/service

Node ecosystem fees (MYST): 0%
B2B residential-IP / proxy services: 0%
Token treasury / delegation rewards: 0%
Consumer dVPN apps (MysteriumVPN, PortalsVPN): 0%

Workforce by country

Lithuania: 0
Switzerland: 0

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