Crypto Mixing Service Bitcoin Blender Reportedly Shuts Itself Down
Cryptocurrency mixing services have been in the spotlight lately, especially after European authorities recently moved to shut down one of the largest bitcoin mixers.
Now, crypto mixing service Bitcoin Blender has ostensibly moved to shut down its services.
The tumbler reportedly took the step on its own accord, issuing users with a short notice that advised them to withdraw all their funds before the effecting the shutdown. Reports of “bitblender’s” move were first revealed by BleepingComputer.
As per the news outlet, Bitcoin Blender had displayed a description of its services on its homepage, visible both on the website’s Tor network and on clearnet.
The Tor network is synonymous with the terms dark web, darknet, or deep web. Here, user activity and identity are masked to thwart surveillance attempts.
The mixer’s message to prospective users read:
“We are a hidden service that mixes your bitcoins to remove the link between you and your transactions.”
It went to explain that their service added “an essential layer of anonymity” to the users’ online activity that served to shield users against ‘Blockchain Analysis.’
Apparently, an announcement detailing the shutdown was posted on the platform’s dark web homepage and on the BitcoinTalk Forum this past Monday.
However, it appears a number of users missed the notification, and thus, the short window it accorded users for the purpose of allowing them to withdraw their funds.
One of the site’s users explained on BitcoinTalk, a number of them had belatedly learned of the shutdown and thus “missed the withdrawal warning.”
This user said that they had saved their coins on the site, but efforts to access the Tor website had proved futile.
“I am trying to access http://bitblendervrfkzr.onion/ for last 2~3 hours but I can not succeed.”
Although the Tor mirror of Bitcoin Blender has become inaccessible at the moment, its clearnet site remains online at press time.
The reportedly voluntary shutdown comes less than a fortnight after Europol and authorities in Netherlands and Luxembourg moved to shut down BestMixer.
At the time, BestMixer was regarded as one of the three largest tumblers in the world.
Europol reported that investigations had shown that BestMixer was being used by some entities to promote money laundering.
Many within the crypto community disapproved of reports that Dutch and Luxembourg authorities would be sharing details scooped at BestMixer with other countries.
Vitalik Buterin, the co-founder of ethereum (ETH) suggested that maybe it’s time crypto developers designed an on-chain ether mixer.
Disclaimer: This is not investment advice. Cryptocurrencies are highly volatile assets and are very risky investments. Do your research and consult an investment professional before investing. Never invest more than you can afford to lose. Never borrow money to invest in cryptocurrencies.