Mixers, or also known as tumblers, are services of the cryptomonedas ecosystem specialized in blending the backgrounds of different people in order to confuse the flow of transactions and make the trace of them even more difficult to determine. This kind of business enhances the privacy of all information, however, it also facilitates money laundering and illegal activities; That is why authorities around the world have set their sights on such platforms with a view to counterattacking and dismantling any criminal movement
Due to potential illegality and to constitute a more transparent Bitcoin ecosystem, Bitmixer.io, one of the largest Bitcoin mixing services in the world - with a movement of 65,000 BTC per month, according to company data - announced to all its users the Cessation of operations of its platform.
The reasons for closing Bitmixer are due to conceptual and legal factors. The directors, enthusiasts of the cryptographic currencies since 2011, bet on Bitcoin with a view to achieving greater financial privacy. However, Bitmixer.io recognizes that Bitcoin is designed as a transparent system and without absolute anonymity:
I am bitcoin enthusiast since 2011. When we started this service I was convinced that any Bitcoin user has a natural right to privacy. I was totally wrong. Now I understood that Bitcoin is a transparent system not anonymous by design. Blockchain is a great open book. I think that Bitcoin will have a great future without transactions in the dark market. You can use Dash or Zerocoin if you want to buy some grass. It's not Bitcoin
Bitmixer.io
The manager also points out that due to this transparent property Bitcoin is not a suitable method to fund or hide illegal activity. "Bitcoin has no future with trafficking in drugs and weapons or any other illegal activity," said the CEO in the Bitcointalk forum, differentiating this criptomoneda from others in the market as Dash and Zerocoin.
Bitcock blending services are being watched by international authorities since a long time ago because of their willingness to serve money laundering cases. The Netherlands is one of the countries that most recently would have issued a communique warning the authorities of the illegality of this type of activities and announcing further investigations.
In the middle of increasingly illegal terrain, and with a wave of arrests and dismantling on the deep web that affected Bitcoin's largest markets in this part of the Internet with the closure of Alphabay and Hansa, the CEO of Bitmixer.io That in the future the services mixers will be considered illegal activities in the majority of the countries.
In this context, the platform also had an official mirror network in the Tor browser in order to operate in the dark net, so the company considers that this decision to suspend operations could significantly help the Bitcoin network To make it cleaner criminal activities and motivate other platforms to make the same decision
Because of this position that seeks to improve the legality of the ecosystem of cryptographic currencies, the platform will not be sold no matter how lucrative the business was or how substantial the profits could be, says Bitmixer.io.