Fear of the unknown? Bitcoin Blender shut down

bitcoin

In a surprising move, Bitcoin Blender has just announced it is shutting down it’s operations.

Bitcoin Blender is a digital currency mixing or tumbling platform. The platform basically obfuscate the Bitcoin address of the sender thereby making them untraceable or unidentifiable.

The news is coming less than two weeks after a popular tumbling service, Bestmixer was taken over and shut down by a combined operation of Europol, FIOD and Dutch intelligence agencies.

Without giving any tangible reason, one of the anonymous owners of the Bitcoin Blender went to BitcoinTalk forum to announce. He advised customers of the mixing service to withdraw their funds.

There have been serious concerns amongst law enforcement agencies on the risk posed by mixing services because of their capability to mask money laundering and proceeds of crimes.

The charge statement that led to the shutdown of Bestmixer stated that platform has been used by various questionable individuals to mix over $200 million in digital currencies.

There are indications that several other mixing services could voluntarily shut down to prevent prosecution.