Skip to content

Blockchain News Feed

All the latest news on Blockchain & Cryptocurrencies

Menu
  • Home
  • News
  • Exchanges
  • Market Analysis
  • YouTube
  • Brave Browser
Menu

Meet Bestmixer, the Bitcoin Tumbler Trying to Outwit Chainalysis

Posted on juni 3, 2018 by Blockchain News

Bitcoin tumbling service Bestmixer has added a slew of new features designed to enhance anonymity. A triple-tier service provides varying levels of privacy, all geared around outsmarting the blockchain forensic tools deployed by companies such as Chainalysis.

Also read: Bitcoin’s Chance at the $20 Trillion Offshore Tax Haven Market

Bestmixer Ups Its Privacy Game

Bitcoin tumbler services and blockchain analysis firms have been engaged in a cat and mouse game, with each trying to outwit the other. Blockchain forensics companies have the full weight of law enforcement behind them and the deep pockets of government funding their bitcoin deanonymizing efforts. Tumbler services, in comparison, have little more than some open source code and a desire to reclaim the privacy that’s been gradually eroded from the web over the years, with crypto users among the worst affected.

Bestmixer.io launched in March of this year, and has just issued a major update to its privacy features. Users of BTC, BCH, ETH, and LTC can feed their coins through the service, with the ones that emerge on the other side promised to be untainted and unlinkable. Platforms such as Chipmixer offer a similar service, which can be accessed from the clearnet or deep web, providing a means of obfuscating activity on darknet markets and anywhere else where privacy is desired.

Beating Chainalysis at Their Own Game

In a post on the Bitcointalk forum, the Bestmixer team announced the introduction of a new module containing reserves for mixing, writing:

Not so long ago a New York blockchain startup ‘Chainalysis’ announced the launch of a real-time transaction analysis tool. A new tool called ‘Chainalysis KYT’ (Know Your Transaction) allows real-time transaction analysis. In particular, the new functionality allows cryptocurrency companies to find out instantly how reliable their counterparty is, and whether it operates with funds that were previously used in illegal financial transactions. In connection with this news, we decided to divide our reserves into three pools, each of which will fulfill its goals.

The Alpha, Beta, and Gamma pools offer different degrees of privacy, with the latter two commanding an increased fee commensurate with the cost of maintaining them. Explaining the importance of privacy for all cryptocurrency users, the Bestmixer team said: “Everyone who has ever participated in a transaction with you has an opportunity to find out the addresses of your wallets, their balances, and can determine the origin of your coins and the destination address. Apart from disclosing the details of your private life, it also makes you an easy target for cybercriminals.”

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” LaunchesChainalysis have become unavoidable in the world of cryptocurrency, particularly when it comes to KYC and KYT. Many ideologues regard them as “enemies of bitcoin” due to their efforts to deliver cryptocurrency users into the hands of the state that bitcoin was arguably designed to counter. In addition to being used in criminal investigations, Chainalysis is deployed to detect pooling with ICO private sales, something that most ICOs are publicly against but which is rampant. Services such Bestmixer and Chipmixer play a small but vital role in protecting the privacy of those who cherish it the most.

Do you think bitcoin tumblers can be trusted to thwart forensic services like Chainalysis? Let us know in the comments section below.


Images courtesy of Shutterstock, and Chainalysis.


Need to calculate your bitcoin holdings? Check our tools section.

The post Meet Bestmixer, the Bitcoin Tumbler Trying to Outwit Chainalysis appeared first on Bitcoin News.


Source: Bitcoin.com
Original Post: Meet Bestmixer, the Bitcoin Tumbler Trying to Outwit Chainalysis

Ledger Nano X - The secure hardware wallet

Recente berichten

  • KyberSwap announces first ever $ARB token liquidity pools, liquidity mining and trading campaigns on Arbitrum
  • KyberSwap announces first ever $ARB token liquidity pools, liquidity mining and trading campaigns on Arbitrum
  • The impact of the Credit Suisse bank crisis on the crypto market
  • U.S. IRS explores NFT taxation; seeks public discourse
  • Crypto Exchange Luno Rejigs Leadership Roles as It Seeks to Boost Investor Base, Eyes Public Listing

Categorieën

  • Altcoin Buzz
  • Altcoin Buzz News
  • AMBcrypto
  • Bitcoin.com
  • Bitcoinist
  • BTC Manager
  • CCN
  • Coin Mastery
  • Coindesk
  • Coinpower News
  • Cointelegraph
  • CryproSlate
  • Crypto Daily
  • Crypto News (.net)
  • Cryptocoin News
  • Cryptocurrency News
  • CryptoDaily.co.uk
  • CryptoPotato
  • CryptosRUs
  • Daily HODL
  • DataDash
  • Ethereum Worldnews
  • Exchanges
  • ICO's
  • Invest in Blockchain
  • Market Analysis
  • News
  • News BTC
  • Newsbit
  • Portfolio
  • Pricecheck
  • Ready Set Crypto
  • The Modern Investor
  • ToshiTimes
  • Use The Bitcoin

Archieven

  • maart 2023
  • februari 2023
  • januari 2023
  • december 2022
  • november 2022
  • oktober 2022
  • september 2022
  • augustus 2022
  • juli 2022
  • juni 2022
  • mei 2022
  • april 2022
  • maart 2022
  • februari 2022
  • januari 2022
  • december 2021
  • november 2021
  • oktober 2021
  • september 2021
  • augustus 2021
  • juli 2021
  • juni 2021
  • mei 2021
  • april 2021
  • maart 2021
  • februari 2021
  • januari 2021
  • december 2020
  • november 2020
  • oktober 2020
  • september 2020
  • augustus 2020
  • juli 2020
  • juni 2020
  • mei 2020
  • april 2020
  • maart 2020
  • februari 2020
  • januari 2020
  • december 2019
  • november 2019
  • oktober 2019
  • september 2019
  • augustus 2019
  • juli 2019
  • juni 2019
  • mei 2019
  • april 2019
  • maart 2019
  • februari 2019
  • januari 2019
  • december 2018
  • november 2018
  • oktober 2018
  • september 2018
  • augustus 2018
  • juli 2018
  • juni 2018
  • mei 2018
  • april 2018
  • maart 2018
  • februari 2018
  • januari 2018
  • december 2017
  • november 2017
  • oktober 2017
  • september 2017
  • maart 2017
  • juni 2016
  • juli 2014
  • september 2013
  • augustus 2013
©2023 Blockchain News Feed | Design: Newspaperly WordPress Theme