Bitcoin Mixer: Only 11 Percent of Coins Used for Illegal Activities | BTC-ECHO
Bitcoin mixers are causing difficulties for the authorities. On the one hand, the call for privacy in liberal democracies should not fall on deaf ears among decision-makers. On the other hand, Bitcoin mixers such as Bestmixer make it difficult to impossible to investigate crimes such as illegal darknet trading.
Because without the mixing of coins by services like Wasabi or Samurai Bitcoin is not anonymous, but pseudonymous. Investigators can transparently view all payment transactions on the blockchain. As soon as there is a connection to clear names in the analogue world, blessings and all payments – whether legal or illegal – are left open.
Because of this, mixers are becoming increasingly popular – much to the regret of the authorities. Finally, if properly handled, they allow you to spend and save BTC anonymously. In order to master the alleged excessive use of BTC, Bitcoin Mixers have therefore been getting more and more often into the crosshairs of the investigating authorities. For example, Dutch authorities shut down Bestmixer on May 24 of this year, we reported.
Only 2.7 percent come from the Darknet
But the proportion of mixed coins is, according to the blockchain analysis firm Chainalysis relatively low. “Many people only use blenders for personal privacy,” explains Hannah Curtis, chainalysis manager. “But we know that a lot of illegal money still lands on blenders,” he continues.
To be precise, the data from Chainalysis show that only 8.1 percent of the mixed Satoshis come from theft. Another 2.7 percent came from Darknet transfers. In summary, you get so on just under 11 percent mixed coins, which go back to illegal business practices. In this light, the prohibition of Bestmixer is disproportionate.
The overwhelming part is simply from Exchanges. The motive to use BTC privately can be manifold. However, as long as users do not fund illegal practices with Bitcoin, the use of mixers and tumblers seems legitimate.
Before the Dutch FIOD Bestmixer.io shut down, the service mixed over 27,000 coins.
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