Dutch, Luxembourg authorities and Europol have closed down one of the three largest cryptocurrency tumblers, Europol reported on May 22.
A cryptocurrency tumbler, also referred to as a cryptocurrency mixing support, is an anonymity tool that asserts to transform transactions of non-private coins to private ones by blending crypto funds with others, which makes it difficult to track the funds’ original source.
According to the report, the Dutch Fiscal Information and Investigation Service (FIOD) has seized six servers of important crypto tumbler Bestmixer.io, which was reported percentage of $200 million since its launching in May 2018. The service was supposedly one of the three biggest mixing services for cryptocurrencies including bitcoin (BTC), litecoin (LTC), bitcoin cash (BCH) and others.
After starting an investigation back in June 2018, the FIOD, together with Europol and Luxembourg police, have banned the stage, since they discovered a high number of combined coins on Bestmixer came from criminal activity and were allegedly employed for money laundering or prohibited financing.
Since Europol noted, Bestmixer’s closure is the first legal enforcement actions of its character against a cryptocurrency tumbler. At that time, the Bestmixer site is not operating, with a FIOD notice claiming”that you aren’t anonymous.”
Screenshot of Bestmixer website at press time
The FIOD supposedly gathered data on all the transactions on the platform in the past year, including discussion messages, bitcoin addresses, IP-addresses and more. The authority is planning to analyze the acquired information and discuss the outcomes with different nations, Europol mentioned.
At press time, numerous crypto mixers could be located online, including ChipMixer, BitMix.Biz and BitBlender, amongst others.
Lately, Europol and German authorities seized the hosts of a shadowy net marketplace, taking six figures in crypto from the arrested suspects.