30 Jul '17, 4pm

Internet's Largest Bitcoin Mixer Shuts Down Realizing Bitcoin Is Not Anonymous

Internet's Largest Bitcoin Mixer Shuts Down Realizing Bitcoin Is Not Anonymous

BitMixer , the world's most popular Bitcoin mixing service has announced last weekend it was shutting down operations effective immediately. Bitcoin mixing is a process of taking money from one account and breaking it into hundreds or thousands of smaller transactions to transfer it to another account. For years, it was believed that Bitcoin mixing is a safe way to transfer funds anonymously from one account to another, mainly because there was no technology to track all the transactions and reveal the destination account. BitMixer: Bitcoin is non-anonymous by design In a statement , the BitMixer owners said they were shutting down the service after realizing that Bitcoin was a "transparent non-anonymous system by design." In recent years, companies invested large amounts of money in the efficient tracking of Bitcoin transactions via the public ledger (blockchain). For exa...

Full article: https://www.bleepingcomputer.com/news/technology/internet...

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