Industry Analysis

Cryptocurrency mixing service Bitcoin blender shuts down

On 30 May, tech news outlet Bleeping Computer reported about cryptocurrency mixing service Bitcoin blender that willingly shut down after issuing a short notice requesting users to withdraw their funds.

According to the report, a message describing the service appeared on the homepage of the website present even on the Tor network read:

“We are a hidden service that mixes your Bitcoins to remove the link between you and your transactions. This adds an essential layer of anonymity to your online activity to protect against ‘Blockchain Analysis.’”

On Monday 29 May, the shutdown of the Bitcoin blender was reportedly announced both on the Bitcoin Talk Forum and the homepage of the dark web website. Unfortunately, some users reportedly missed the short time window and did not withdraw their funds on time before the shutdown.

On Bitcoin Talk, one user lamented:

“I recently came to know about the shutting down process of bit blender; I had many coins saved onto it. I, unfortunately, missed the withdrawal warning as I was away for the past few weeks. I am trying to access http://bitblendervrfkzr.onion/ for last 2~3 hours, but I cannot succeed.”

At the time of the announcement, the Tor mirror was currently inaccessible, but the Clearnet website was still online.

Recently, Dutch authorities and Europol, announced the shutdown of the three largest cryptocurrency mixers, BestMixer, after an investigation disclosed several coins from the mixer were used to launder money.

Vitalik Buterin, co-founder of Ethereum, proposed shortly after the shutdown the possibility of creating an on chain quick contact based ether mixer.

Do you think the shutdown of the cryptocurrency mixing service Bitcoin blender shows the increasing reach of regulators to curb criminal usage of virtual currencies?

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Here is why Bitcoin’s price is rising according to BitPay CCO

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coinmag

Philip is an experienced blogger keen on staying updated with trends and news surrounding the blockchain and Bitcoin space. With several years of freelance experience in various industries, Philip brings his knowledge and experience into the crypto space.

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