VPN Infrastructure Exposed

Who really runs your VPN -- and what that means for privacy

Published: April 7, 2026 | Updated: June 1, 2026

All data sourced from public BGP records, Netify server databases, the X4BNet VPN IP reputation list, Team Cymru ASN lookups, and national commercial registries. This is a living document that will be updated as research continues.

April 8, 2026: Edited to better clarify that ASN and PeeringDB data identifies which hosting companies operate network blocks and which facilities those companies use, but cannot trace individual IPs to specific buildings.

April 9, 2026: Updated Hotspot Shield parent company from Aura/Pango to Point Wild, reflecting the merger of Pango Group with Total Security and rebrand. Expanded ownership consolidation section to include additional VPN brands owned by Ziff Davis, McAfee, and Point Wild. Updated data sharing agreements.

June 1, 2026: Added a note on Operation Saffron (May 2026), the first time Europol seized a VPN service’s complete user database, as a concrete illustration of how VPN subscriber records move through the data-sharing frameworks documented here.

June 1, 2026: Incorporated the independent X4BNet VPN IP database (10,577 ranges) as a cross-check. Resolved through the same Team Cymru ASN method, it places the same two UK-headquartered hosts (M247 and Datacamp) at the top by a wide margin, independently corroborating the concentration finding. See the new “Independent Validation” section.

June 1, 2026: Also resolved X4BNet’s separate datacenter list (42,291 ranges) to map the broader hosting substrate. M247 and Datacamp rank among the top four networks in it, behind only Amazon and ahead of Microsoft, Oracle, and Google Cloud. See the new “Broader Substrate” section (with a caveat that this is a detection-oriented list, not a census of all datacenter IP space).

The Question

VPN providers market themselves as independent services in diverse jurisdictions. This investigation asks a structural question: does the global VPN industry's physical infrastructure actually reflect that diversity, or does it concentrate in a small number of hosting companies, buildings, and jurisdictions? We traced the path from VPN provider to hosting company to physical datacenter building to building owner. The findings:

Methodology

This analysis uses four layers of public data, cross-checked against a fifth independent dataset:

Cross-provider overlap was measured by comparing /24 blocks. If two VPN providers have IPs within the same /24 block, those IPs are originated by the same ASN -- meaning they are on the same network operator's infrastructure. This does not guarantee they share the same physical server, rack, or even building, as a /24 (256 addresses) can be subnetted across multiple locations by the same operator. Corporate ownership was verified through public filings, Wikipedia, and commercial registries.

The Providers Analyzed

Provider/24 BlocksParent CompanyHQ
NordVPN2,176Nord Security (Tefincom S.A.)Panama / Netherlands
Surfshark704Nord Security (CyberZone S.A.)Panama / Netherlands
TunnelBear412McAfee CorpUSA
Windscribe391Windscribe LimitedCanada
Proton VPN336Proton AGSwitzerland
Private Internet Access284Kape TechnologiesIsrael / UK
Mullvad259Mullvad VPN ABSweden
Hotspot Shield216Point Wild (formerly Pango Group)USA
CyberGhost215Kape TechnologiesIsrael / UK
IPVanish168Ziff Davis (j2 Global)USA
ExpressVPN164Kape TechnologiesIsrael / UK

Plus 39 additional providers analyzed (8-463 blocks each): PotatoVPN, X-VPN, UrbanVPN, ZoogVPN, WLVPN, VPN Unlimited, ThunderVPN, HMA, TorGuard, TurboVPN, Hola VPN, AirVPN, SlickVPN, GhostPath, Browsec, Speedify, PrivateVPN, TikVPN, VyprVPN, AzireVPN, FastestVPN, VPN Lumos, VPNSecure, Anonine, BoxPN, EasyHideVPN, FrootVPN, CryptoStorm, OVPN, OctoVPN, Getflix, PrivadoVPN, SSHOcean, SecureVPN, PureVPN, AvastVPN.

Total: 6,429 unique /24 blocks across 50 providers. 1,723 of these (27%) are used by two or more providers.

Source: Netify VPN server database, April 2026. Parent company ownership from Wikipedia: Kape, Wikipedia: NordVPN, Wikipedia: IPVanish, and public filings.

Ownership Consolidation

Before examining hosting infrastructure, the provider list itself reveals consolidation. Of the 11 largest providers:

Five parent companies control 8 of the 11 major VPN brands analyzed, plus numerous additional brands not in our dataset. Only Proton VPN, Mullvad, and Windscribe operate under independent ownership. Four of the five parent companies also own publications that review VPN products.

Source: Tom's Guide: Who really owns your VPN?; Wikipedia: Tesonet; TechRadar: Kape/Webselenese acquisition; Wikipedia: Ziff Davis; PR Newswire: Pango Group/Point Wild merger; Windscribe: VPN relationship map

The Hosting Concentration

All 6,429 unique /24 blocks resolved via Team Cymru ASN DNS. 491 unique ASNs identified across 50 VPN providers:

Hosting ProviderASNBlocks%HQ
PacketHub S.A. (= NordVPN)AS136787 +31,71526.8%Panama (Nord Security)
M247AS900975911.9%Manchester, UK
Datacamp/CDNEXTAS2122385238.2%London, UK
CyberZone S.A. (= Surfshark)AS2098543044.8%Panama (Nord Security)
DigitalOceanAS140612894.5%New York, USA
CDN77AS600681752.7%London, UK (= Datacamp)
VultrAS204731502.3%USA
ZenlayerAS218591272.0%USA
OVHAS162761041.6%Roubaix, France
ClouviderAS622401031.6%London, UK
GSL NetworksAS1374091001.6%Sydney, Australia
Akamai/LinodeAS63949941.5%USA
tzuloAS11878901.4%USA
Strong TechnologyAS62651590.9%USA
Bandwidth TechnologiesAS25369570.9%Edinburgh, UK
Powerhouse MgmtAS22363540.8%USA
OneProviderAS136258520.8%Canada
CogentAS174480.8%USA
Latitude.shAS396356460.7%USA
Amazon AWSAS16509400.6%Seattle, USA
HostPapa/ColoCrossingAS36352400.6%USA
HostRoyaleAS203020350.5%Jaipur, India
GTHostAS63023340.5%Phoenix, USA
ContaboAS51167 +AS40021631.0%Germany / USA
Kaopu CloudAS138915310.5%Hong Kong
Host UniversalAS136557260.4%Sydney, Australia
EstNocAS206804260.4%Tallinn, Estonia
TOTAL RESOLVED6,394100%491 unique ASNs

Jurisdictional concentration (excluding VPN-owned infrastructure):

Jurisdiction% of Industry HostingKey ProvidersSurveillance Framework
Nord Security (own infra)1,715 blocks (26.8%)PacketHub, CyberZonePanama-registered (US-Panama MLAT 1995; submarine cable chokepoint); Netherlands-incorporated (Nine Eyes, Maximator, Wiv 2017)
United Kingdom1,674 blocks (26.2%)M247, Datacamp/CDN77, Clouvider, Bandwidth, UK2Net, UK ServersFive Eyes; Investigatory Powers Act 2016 (TCNs with gag orders)
United States1,150 blocks (18.0%)DigitalOcean, Vultr, Zenlayer, Akamai, tzulo, Amazon, Cogent, GTHost, Limestone, ColoCrossingFive Eyes; FISA Section 702, CLOUD Act, NSLs
Australia126 blocks (2.0%)GSL Networks, Host UniversalFive Eyes; Assistance and Access Act 2018 (TCNs with gag orders)
France122 blocks (1.9%)OVH, ScalewayNine Eyes, Maximator; Loi Renseignement 2015
Netherlands66 blocks (1.0%)LeaseWeb, othersNine Eyes, Maximator; Wiv 2017 (bulk cable interception)
Germany39 blocks (0.6%)Contabo, myLoc/WIITFourteen Eyes, Maximator; G10 Act, BND-Gesetz 2021
Estonia26 blocks (0.4%)EstNocEU/Europol; NATO CCDCOE host; Electronic Communications Act

Source: Team Cymru IP-to-ASN DNS; Netify VPN database; ARIN/ RIPE WHOIS. Analysis date: April 6-7, 2026.

Cross-Provider Overlap

Across all 50 providers, 1,723 /24 blocks (27%) are shared by two or more VPN providers. 557 by 3+, 226 by 4+, 75 by 5+, 29 by 6+, 10 by 7+, and 2 blocks by 8 providers simultaneously. The top pairwise overlaps (from the 11 major providers):

Provider AProvider BShared /24 Blocks
NordVPNSurfshark106
CyberGhostPrivate Internet Access101
NordVPNProton VPN73
NordVPNWindscribe70
SurfsharkProton VPN54
SurfsharkWindscribe43
NordVPNHotspot Shield42
SurfsharkMullvad34
WindscribeProton VPN34
NordVPNCyberGhost32
MullvadProton VPN30

The NordVPN-Surfshark overlap (106 blocks) and CyberGhost-PIA overlap (101 blocks) are expected -- these are sister companies under the same parent (Nord Security and Kape Technologies respectively). The cross-ownership overlaps (NordVPN-Proton: 73, NordVPN-Windscribe: 70, Surfshark-Proton: 54) indicate shared third-party hosting providers.

The most-shared blocks across all 50 providers:

BlockShared ByHosting ProviderHQProviders
178.175.136.0/249Trabia (AS43289)MoldovaCyberGhost, Hide.me, IPVanish, NordVPN, TorGuard, TunnelBear, Windscribe, WLVPN, ZoogVPN
89.163.128.0/248myLoc/WIIT AG (AS24961)GermanyAnonine, BoxPN, CryptoStorm, CyberGhost, EasyHide, FastestVPN, FrootVPN, UrbanVPN
82.102.27.0/247M247 (AS9009)UKAirVPN, CyberGhost, Hotspot Shield, IPVanish, NordVPN, TunnelBear, WLVPN
95.211.0.0/247LeaseWeb (AS60781)NetherlandsAnonine, BoxPN, Browsec, EasyHide, FrootVPN, IVPN, TunnelBear
180.149.231.0/247Host Universal (AS136557)AustraliaAnonine, BoxPN, EasyHide, FrootVPN, NordVPN, Surfshark, UrbanVPN
2.58.46.0/247M247 (AS9009)UKAnonine, BoxPN, EasyHide, FrootVPN, HMA, NordVPN, TorGuard
51.158.0.0/247Scaleway (AS12876)FranceBrowsec, Hide.me, PotatoVPN, ThunderVPN, TurboVPN, UrbanVPN, X-VPN
45.133.192.0/247EstNoc (AS206804)EstoniaCyberGhost, ExpressVPN, IPVanish, IVPN, PIA, Windscribe, WLVPN
145.239.0.0/247OVH (AS16276)FranceOctoVPN, PotatoVPN, ThunderVPN, TurboVPN, UrbanVPN, X-VPN, ZoogVPN
79.127.182.0/245Datacamp/CDNEXT (AS212238)UKHotspot Shield, Mullvad, Proton VPN, Surfshark, Windscribe

The Concentration Problem

VPN providers market themselves as independent services operating in privacy-friendly jurisdictions. The infrastructure data tells a different story. Across 50 providers and 6,429 network blocks:

The result is that providers who market different jurisdictions, different privacy policies, and different corporate structures converge on the same small group of hosting companies. Proton VPN (marketed as "Swiss privacy") shares /24 blocks with NordVPN (Panama), Surfshark (Panama), Mullvad (Sweden), Windscribe (Canada), and Hotspot Shield (USA) -- all on Datacamp and M247 infrastructure in the UK. A user who switches VPN providers for jurisdictional reasons may find their traffic exiting through the same datacenter facility regardless of which provider they choose -- and as documented below, that rack may not be in the country the VPN claims.

What the Data Shows

This analysis documents infrastructure concentration: a small number of hosting companies, in a small number of datacenter buildings, in a small number of jurisdictions, carry traffic for the majority of commercial VPN providers. This is a structural observation about how the industry is built, not an allegation that any provider or hosting company has been compromised.

Historical Context

Separately, Snowden-era documents (2013) revealed the NSA's Bullrun program and GCHQ's Edgehill program, both aimed at defeating VPN encryption. By 2010, GCHQ was unscrambling VPN traffic for 30 targets with a goal of 300. The disclosed methods included "industry relationships" and infrastructure compromise.

This investigation does not link the documented infrastructure concentration to those programs. It observes that the concentration creates the structural conditions where a small number of access points could cover a large fraction of global VPN traffic. Whether that concentration exists due to market economics (which adequately explains it) or for other reasons, the structural reality is the same.

Source: Bullrun/Edgehill: Wikipedia; ProPublica. M247 VPN hosting: m247global.com. Datacamp bare metal: datapacket.com.

Recent Precedent: A VPN User Database Seized (May 2026)

In May 2026, a multinational operation provided a concrete illustration of what happens to a VPN's records under legal pressure. In Operation Saffron (May 19-20, 2026), law enforcement led by France and the Netherlands -- with Europol, Eurojust, and the security firm Bitdefender -- dismantled "First VPN" (marketed at 1vpns.com), a "bulletproof" anonymisation service that since 2014 had served as the infrastructure layer for at least 25 ransomware groups as well as fraud networks, botnets, and phishing operations. Authorities seized 33 servers across 27 countries, took down the primary domains, and interviewed the Ukrainian operator.

What makes the case notable for this investigation is the data outcome: investigators obtained the service's complete user database -- more than 5,000 accounts, reportedly the first time Europol has seized an entire VPN user database. Europol then shared 83 "intelligence packages" covering 506 users with partner countries, turning a service that advertised anonymity into a cross-border evidence-and-intelligence pipeline.

First VPN was a criminal service, not one of the 50 commercial providers analysed here, and there is no suggestion that any commercial provider was involved. But the case is instructive for two reasons directly relevant to this report. First, it confirms that a VPN's subscriber records can be seized in bulk and redistributed across exactly the international data-sharing frameworks tabulated above (Europol, Eurojust, MLATs, and bilateral cooperation). Second, it shows that the practical value of a "no-log" claim depends entirely on whether logs actually exist on the hardware when servers are seized -- and physical control of that hardware sits with the hosting company and its jurisdiction, not the VPN brand. As the facility tables below show, the buildings that carry the bulk of commercial VPN traffic are concentrated in countries that each have at least one such data-sharing agreement.

Source: Help Net Security: Authorities dismantle First VPN (May 21, 2026); Europol newsroom; per-country data-sharing frameworks via the CodaMail Privacy Law Directory (EU / Europol section).

The Building Owners

The hosting providers (M247, Datacamp) don't own the datacenter buildings. They rent rack space from datacenter operators. PeeringDB lists the facilities where M247 (65 facilities) and Datacamp/CDN77 (91 facilities) have a presence. We cannot map specific VPN IPs to specific buildings, but we can identify who owns the buildings these hosting companies operate from:

Building OwnerFacilities%HQ
Equinix5132.7%Redwood City, CA, USA (NYSE: EQIX)
Digital Realty2516.0%Austin, TX, USA (NYSE: DLR)
EdgeUno85.1%Latin America
Telehouse63.8%KDDI subsidiary, Japan
Cologix53.2%USA / Canada
NXDATA31.9%Romania
Cirion31.9%ex-Lumen LATAM
Other5535.3%Various
TOTAL156100%

Building ownership was determined from PeeringDB facility names (e.g., "Equinix DC1-DC15" or "Digital Realty Frankfurt FRA1-27"). Two US publicly traded real estate investment trusts -- Equinix (NYSE: EQIX) and Digital Realty (NYSE: DLR) -- own 48.7% of the datacenter facilities used by the VPN industry's two largest hosting providers. Both are US companies. As facility operators, they control physical access to the buildings, though colocation customers typically use locked cages or racks with their own access controls.

Equinix (NYSE: EQIX)

51 of 156 VPN-hosting facilities (32.7%). Top shareholders: Vanguard Group, BlackRock, State Street (93.8% institutional ownership). Equinix maintains a Government Advisory Board whose members include:

Equinix acquired Terremark Federal Group, bringing in 33 employees with government security clearances. Equinix operates a Federal Government Solutions division with procurement contracts via Carahsoft.

Source: Equinix blog: Gov Advisory Board; Equinix board of directors; Yahoo Finance: EQIX holders

Digital Realty (NYSE: DLR)

25 of 156 VPN-hosting facilities (16.0%). Top shareholders: Vanguard Group (~15.5%), BlackRock, Cohen & Steers, Norges Bank (Norwegian sovereign wealth fund), State Street. Board member Kevin J. Kennedy (former Avaya CEO) was appointed by President Obama to the President's National Security Telecommunications Advisory Committee in 2010.

Source: Digital Realty board; Yahoo Finance: DLR holders; Wikipedia: Kevin J. Kennedy (NSTAC appointment confirmed)

Common Ownership

Vanguard Group, BlackRock, and State Street are top shareholders of both Equinix and Digital Realty. These are the three largest passive index fund managers in the world and hold major positions in most publicly traded companies. The common ownership is a structural feature of modern capital markets, not specific to the datacenter industry.

Source: PeeringDB: M247 (net/906) -- 65 facilities queried via API (netfac?net_id=906); PeeringDB: CDN77/Datacamp (net/10839) -- 91 facilities queried via API (netfac?net_id=10839). Building ownership attributed from facility names in PeeringDB records (e.g., facilities named "Equinix [code]" attributed to Equinix, Inc.).

Virtual Locations: Where Your Server Really Is

VPN providers advertise servers in dozens of countries. But the IP address's geolocation and the server's physical location are often different. Comparing IP geolocation data (ip-api.com) against ASN registration country (Team Cymru) for an evenly distributed sample of 200 blocks from the 6,429 total:

Examples from the data:

Advertised LocationASN CountryASN
Kathmandu, NepalUSAS212238 (Datacamp)
Hong KongGBAS212238 (Datacamp)
Hong KongUSAS22363 (Powerhouse)
Seoul, South KoreaUSAS16509 (Amazon)
Doha, QatarCZAS212238 (Datacamp)
Santiago, ChileUSAS212238 (Datacamp)
Riyadh, Saudi ArabiaROAS9009 (M247)
Belgrade, SerbiaROAS9009 (M247)
Taipei, TaiwanCAAS136258 (OneProvider)
Dublin, IrelandDEAS136787 (PacketHub/Nord)
São Paulo, BrazilDEAS212238 (Datacamp)

When a user connects to "VPN server in Nepal," the traffic may physically exit from a Datacamp server in a US or UK datacenter. The geolocation databases report Nepal because the IP range has been geolocated there -- but the hardware, the network, and the legal jurisdiction are in the hosting provider's actual country of operation. An XDA investigation independently confirmed this practice across multiple VPN providers.

This means the geographic diversity that VPN providers advertise (servers in "100+ countries") may overstate the actual physical footprint. A significant fraction of "global" VPN infrastructure physically resides in a smaller number of countries where the hosting providers operate datacenters.

Source: ip-api.com batch API; Team Cymru ASN DNS. 200-block sample from 6,429 unique blocks. XDA investigation independently confirmed virtual location practices. Analysis date: April 7, 2026.

Where the Infrastructure Physically Sits

ASN registration country does not determine where servers physically are -- M247 is registered in Romania but operates in 25+ countries; Datacamp is registered in the UK but has facilities in 40+ countries. PeeringDB facility data shows the actual datacenter locations where M247 and Datacamp (the two largest third-party VPN hosts) have physical equipment:

CountryFacilities%Data Sharing Frameworks
United States4025.6%Five Eyes, CLOUD Act, FISA 702, NSLs, NATO
Australia85.1%Five Eyes, CLOUD Act, AA Act 2018 (TCNs with gag orders), SIGINT Seniors Pacific
Canada85.1%Five Eyes, MLAT (US-CA), NATO
Netherlands63.8%Nine Eyes, Maximator, EU/Europol, NATO
United Kingdom53.2%Five Eyes, CLOUD Act, IPA 2016 (TCNs with gag orders), SIGINT Seniors Europe
France53.2%Nine Eyes, Maximator, Loi Renseignement 2015, EU/Europol, NATO
Mexico53.2%MLAT (US-MX)
Germany42.6%14 Eyes, Maximator, G10 Act, EU/Europol, NATO
Japan42.6%SIGINT Seniors Pacific, MLAT (US-JP)
Hong Kong42.6%PRC National Security Law
Colombia42.6%MLAT (US-CO)
Brazil42.6%MLAT (US-BR)
Vietnam42.6%Cybersecurity Law 2018 (data localization)
Spain31.9%14 Eyes, EU/Europol, NATO, SIGINT Seniors Europe
Romania31.9%EU/Europol, NATO
Singapore31.9%SIGINT Seniors Pacific, MLAT
Turkey31.9%NATO, MLAT
Other (30 countries)4327.6%Various MLATs, bilateral, EU/Europol, NATO
TOTAL156100%47 countries

Of the 156 physical datacenter facilities used by M247 and Datacamp, 61 (39.1%) are in Five Eyes countries. The US alone accounts for 40 facilities (25.6%). Every facility country has at least one documented intelligence sharing agreement (MLAT, bilateral, alliance membership, or EU framework). For per-country surveillance law details, see the CodaMail Privacy Law Directory.

Source: PeeringDB facility data for M247 and CDN77/Datacamp; data sharing frameworks from CodaMail Privacy Law Directory. Analysis date: April 7, 2026.

Chokepoint Cities

Mapping the physical facilities of the five largest third-party VPN hosting providers (M247, Datacamp/CDN77, Clouvider, DigitalOcean, Vultr) via PeeringDB reveals 101 cities worldwide where VPN hosting infrastructure exists. Three cities host all five providers simultaneously:

CityProvidersFacilitiesPrimary Building Owners
Los Angeles, US5 of 58Equinix (2), Other (6)
Atlanta, US5 of 59Digital Realty (6), Equinix (1)
Amsterdam, NL5 of 59Equinix (4), Digital Realty (1)
Ashburn, US4 of 55Equinix (4), Digital Realty (1)
Dallas, US4 of 510Equinix (9), Digital Realty (1)
London, GB4 of 58Telehouse (7), Digital Realty (1)
Frankfurt, DE4 of 58Equinix (5), Digital Realty (3)
Chicago, US4 of 57Equinix (3), Digital Realty (1)
New York, US4 of 58Digital Realty (7), Equinix (1)
Singapore, SG4 of 55Equinix (5)
Sydney, AU4 of 57Equinix (7)
Tokyo, JP3 of 55Equinix (4), Telehouse (1)
Paris, FR3 of 55Equinix (2), Digital Realty (2)

In Dallas, 9 of 10 VPN hosting facilities are Equinix buildings. In Sydney, all 7 are Equinix. In Singapore, all 5 are Equinix. In London, 7 of 8 are Telehouse (KDDI, Japan). The hosting companies serving dozens of VPN brands operate from a small number of buildings in each city.

Source: PeeringDB facility API for M247, Datacamp, Clouvider, DigitalOcean, Vultr. Building ownership from facility names.

Independent Validation: The X4BNet VPN IP Database

Every number above derives from a single source for the server IPs: the Netify VPN database. A reasonable objection is that the concentration we found could be an artifact of how one source compiles its list. To test that, we repeated the core ASN analysis against a completely independent dataset: X4BNet's lists_vpn, an open-source IP reputation list (auto-updated via GitHub Actions and widely used for VPN/proxy detection) that is compiled by a different method and a different team than Netify.

We retrieved the X4BNet VPN list on June 1, 2026 -- 10,577 IPv4 CIDR ranges -- took one representative IP from each range, and resolved all of them through the same Team Cymru bulk ASN service used earlier. The ranges mapped to just 94 distinct ASNs. The result is not a restatement of the Netify finding; it is an independent dataset reaching the same conclusion.

The same two UK-headquartered companies sit at the top. M247 and Datacamp together account for 43.9% of all 10,577 ranges -- and 71.1% once pure CDN/transit networks are set aside (see caveat below). Two companies host roughly seven of every ten dedicated VPN ranges in a database that was built with no reference to our analysis.

Hosting concentration in the X4BNet VPN list:

Hosting ProviderASNRanges%HQ
M247AS90092,35722.3%Manchester, UK (RO-registered op.)
Datacamp/CDNEXTAS2122382,09119.8%London, UK
CloudflareAS133351,86717.6%USA (CDN -- see caveat)
AkamaiAS36183 +AS209401,08810.3%USA (CDN -- see caveat)
CogentAS1746326.0%USA (transit)
PacketHub S.A. (= NordVPN)AS1367874554.3%Panama (Nord Security)
FastlyAS541133163.0%USA (CDN -- see caveat)
CDN77AS600681961.9%London, UK (= Datacamp)
GSL NetworksAS1374091921.8%Sydney, Australia
Host UniversalAS1365571491.4%Sydney, Australia
tzuloAS118781271.2%USA
Proton AGAS199218 +AS209103880.8%Switzerland (Proton VPN)
Cyberzone S.A. (= Surfshark)AS209854610.6%Panama (Nord Security)
EstNocAS206804590.6%Tallinn, Estonia
M247 + Datacamp combined4,64443.9%UK-headquartered

The CDN Caveat

X4BNet's VPN list is broader than the 50 consumer brands tracked earlier. Because it is built for proxy/VPN detection, it also captures CDN- and transit-based anonymisation infrastructure -- Cloudflare (17.6%), Akamai (10.3%), Fastly (3.0%), and Cogent (6.0%) -- which are not traditional consumer-VPN exit hosts. This is a feature, not a flaw: it shows the X4BNet list is genuinely independent and not a copy of the Netify set. When those pure CDN/transit networks (37% of the list) are removed, the remaining 6,529 ranges are dedicated VPN-hosting infrastructure, and M247 plus Datacamp account for 71.1% of it.

Jurisdiction Holds Too

Grouping the 94 ASNs by the operator's country of registration reproduces the same jurisdictional picture:

Operator JurisdictionRanges%Note
United States4,16539.4%Five Eyes; incl. Cloudflare/Akamai/Cogent
United Kingdom (M247, RO-registered)2,35722.3%Five Eyes; UK group, Romanian operating entity
United Kingdom (Datacamp/CDN77)2,34122.1%Five Eyes
Panama (Nord Security)5315.0%PacketHub + Cyberzone (own infra)
Australia3483.3%Five Eyes; GSL, Host Universal
Netherlands2892.7%Nine Eyes, Maximator
Five Eyes total (US+GB+AU+CA+NZ)6,86564.9%Two UK-HQ’d operators alone = 44.4%

Seventeen of the ASNs named in this report's own hosting table reappear in the X4BNet list independently -- M247, Datacamp, CDN77, PacketHub (Nord), Cyberzone (Surfshark), GSL Networks, Host Universal, EstNoc, tzulo, Vultr, Zenlayer, OVH, Clouvider, HostRoyale, GTHost, Latitude.sh, and Cogent. Two source lists built by different teams, using different methods, converge on the same operators and the same jurisdictions. The concentration documented in this report is a property of the VPN industry's infrastructure, not of any single data source.

Source: X4BNet/lists_vpn (output/vpn/ipv4.txt), retrieved June 1, 2026: 10,577 IPv4 ranges. ASN resolution via Team Cymru bulk whois (whois.cymru.com), one representative IP per range. Operator jurisdiction from ASN registration data. Analysis date: June 1, 2026.

The Broader Substrate: X4BNet's Datacenter List

X4BNet publishes a second, much larger file: a datacenter IP list of 42,291 IPv4 ranges. Unlike the VPN list, this is not VPN-specific -- it is the general hosting and cloud substrate that VPN exit nodes are built on top of. Resolving all 42,291 ranges through Team Cymru yields 811 distinct ASNs, dominated (as expected) by the hyperscale clouds. But the position of the two VPN-hosting companies within it is the point of interest.

M247 and Datacamp rank among the top four networks in the entire list. Behind only Amazon, M247 is the second-largest network in X4BNet's datacenter list and Datacamp the fourth (Akamai sits narrowly between them). Two companies that exist largely to host VPN and proxy traffic appear above Microsoft, Oracle, and Google Cloud. That is why a handful of brands can carry so much of the VPN industry: their hosts are not niche operators but among the largest tracked hosting networks.

Important caveat: X4BNet's datacenter list is a detection/reputation list, not a neutral census of global datacenter IP allocation. It is curated to flag hosting, VPN, and proxy ranges for abuse detection, so networks heavily used for VPN/proxy traffic (such as M247 and Datacamp) are likely tracked more exhaustively than the ordinary corporate-cloud ranges of the hyperscalers. The ranking below therefore reflects prominence within this list, not a measurement of each company's total share of all datacenter IP space on the internet.

Top operators in the datacenter list (corporate families aggregated across their multiple ASNs):

OperatorRanges%Type / HQ
Amazon6,05214.3%Hyperscale cloud, US
M2472,0734.9%VPN/proxy host, UK (RO-registered)
Akamai1,7894.2%CDN, US/NL
Datacamp/CDN771,7434.1%VPN/proxy host, UK
CenturyLink/Savvis1,0962.6%Transit/hosting, US
Microsoft9532.3%Hyperscale cloud, US
Oracle9282.2%Hyperscale cloud, US
Zenlayer6851.6%Hosting, US
Vultr6841.6%Hosting, US
Google Cloud6101.4%Hyperscale cloud, US

The substrate is itself concentrated: of 811 ASNs, the top 10 account for 36.3% of all ranges, the top 25 for 54.3%, and the top 50 for 68.0%. By operator registration country, the list breaks down as:

JurisdictionRanges%Note
United States21,24350.2%Five Eyes; hyperscalers + many hosts
United Kingdom3,5448.4%Five Eyes; Datacamp, Clouvider, others
Netherlands2,6176.2%Nine Eyes, Maximator
Romania (M247 operating entity)2,1155.0%UK group, Romanian registration
Germany1,5233.6%Fourteen Eyes, Maximator
India1,0892.6%HostRoyale and others
Russia8932.1%Selectel and others
Panama (Nord Security)7391.7%PacketHub (own infra)
Five Eyes total (US+GB+AU+CA+NZ)25,91661.3%

The same US/UK skew documented for VPN-specific infrastructure holds for the broader hosting substrate: just over half of all tracked datacenter ranges are operated by US-registered companies, and Five Eyes jurisdictions account for 61.3%. The VPN industry's reliance on M247 and Datacamp is not an anomaly against this backdrop; it is a concentrated draw from an already-concentrated, already US/UK-weighted pool of hosting capacity.

Source: X4BNet/lists_vpn (output/datacenter/ipv4.txt), retrieved June 1, 2026: 42,291 IPv4 ranges. ASN resolution via Team Cymru bulk whois, one representative IP per range; corporate families aggregated across their constituent ASNs. This is a detection-oriented reputation list, not a complete census of datacenter IP allocation. Analysis date: June 1, 2026.

Notable Ownership Chains

The sections above document infrastructure concentration. The sections below examine three ownership chains that stood out during the investigation.

Kape Technologies: From Adware to VPN Empire

Kape Technologies owns three of the 11 major providers analyzed: ExpressVPN, CyberGhost, and Private Internet Access (combined: 663 /24 blocks). The ownership chain:

Source: Wikipedia: Kape Technologies; Wikipedia: Teddy Sagi; CyberInsider: Kape/Crossrider; CyberInsider: Kape VPN acquisitions; TorrentFreak: Kape acquires review sites

WLVPN: White-Label Infrastructure

WLVPN is a white-label VPN service that provides infrastructure for other companies to resell under their own brand. The ownership chain:

WLVPN's infrastructure powers VPN services for 100+ businesses including StrongVPN, OverPlay VPN, Encrypt.me, and VPNhub (Pornhub's VPN). Ziff Davis also owns IGN, PCMag, Mashable, and other tech media properties that review VPN products.

Source: Wikipedia: IPVanish; VPNpro: 105 VPNs, 24 companies; Top10VPN: NetProtect acquisitions

Free VPN Cluster: Chinese Military-Linked Ownership

Five free VPN apps in our dataset (PotatoVPN, X-VPN, ThunderVPN, TurboVPN, UrbanVPN) share infrastructure heavily concentrated on OVH and Scaleway (French hosting). The ownership chain for the largest of these traces to Chinese state-affiliated entities:

These apps have been downloaded over 86 million times across iOS and Android. A Top10VPN investigation documented the secretive Chinese ownership structure. A separate Comparitech investigation traced China and Russia-linked VPNs on major app stores.

Source: Top10VPN: Chinese ownership investigation; Security Affairs: Chinese VPN companies; Malwarebytes: Chinese military-linked VPNs

The Takeaway

At the infrastructure level, most commercial VPN services are not independent of each other. Brand competition happens at the marketing layer -- different names, different privacy policies, different jurisdictional claims. At the network layer, traffic from dozens of "competing" providers runs on the same hosting companies, operating from the same datacenter facilities, in the same cities. The data does not show that this infrastructure is compromised. It shows that the diversity VPN users believe they are purchasing largely does not exist below the application layer.

Ongoing Investigation

This is a living document, updated as research continues. The X4BNet VPN IP database -- referenced in earlier versions as a future cross-check -- has now been incorporated (see Independent Validation above): its 10,577 VPN ranges, resolved independently, confirm the same M247/Datacamp concentration and the same Five Eyes jurisdictional skew.

Work still open for future updates:

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