Bitcoin glasses are smart to use or carry unwanted attention from regulators

A bitcoin tumbler site that offers users untraceable cryptocurrency, BestMixer, could have stained many wallets by giving them small amounts of BTC as gifts, a practice called encryption to dust.

According to a cryptocurrency security company, Cypher Trace, if your wallet was among those who received the gift, then you could have recycled coins in hand. The company believes that although BestMixer owners are compliant, they may have negotiated with an alleged money launderer, without consent or knowledge.

According to the CEO of Cipher Trace, David Jevans, portfolios who dealt with BestMixer it could attract the attention of the competent regulators. He also believes that anyone using a tumbler could be suspected of questionable reasons.

It all started in October 2018

BestMixer began the promotional campaign in October 2018, based on which it set BTC for the addresses of the portfolios, adding a promotional message for the key services. The amount sent was tiny and ranged between 666 and 888 satoshi.

BestMixer allows people to make completely anonymous transactions, allowing them to remain private when they run funds with others. The funds come from different pools, depending on the level of privacy required by a person.

The tumbler site also perfects in a moment of delay in making it difficult for blockchain analysts to track transactions.

Cryptocurrency payments not longer

Tracing cryptocurrency transactions was difficult and the lack of AML / KYC control made it difficult to connect a person to their own wallet address. For this reason, criminals have found the opportunity to use the medium for their illicit activities; with platforms like Silk Toad they become more popular in the belief that bitcoin is not traceable.

Today, however, most cryptocurrency exchanges have introduced AML / KYC control for each account, allowing them to monitor cryptocurrencies moving in and out of the portfolio. They have also developed sophisticated techniques and tools that link each address to their owners.