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Cryptocurrency Laundering Service, BestMixer.io, Taken Down by Law Enforcement

Cryptocurrency Laundering Service, BestMixer.io, Taken Down by Law Enforcement (Malware and Vulnerabilities)

A much overlooked but essential part in financially motivated (cyber)crime is making sure that the origins of criminal funds are obfuscated or made to appear legitimate, a process known as money laundering. This makes following the money a powerful investigative technique, but criminals have come up with an inventive method to make tracking more difficult; a mixing service. A mixing service will cut up a sum of Bitcoins into hundreds of smaller transactions and mixes different transactions from other sources for obfuscation and will pump out the input amount, minus a fee, to a certain output address. The legality changes when a mixing service advertises itself as a success method to avoid various anti-money laundering policies via anonymity. Bestmixer’s frontpage Nature of the service Bestmixer offered a very clear page on why someone should mix their cryptocurrency. On this page Bestmixer described the current anti-money laundering policies and how its service could help evade these policies by making funds anonymous and untraceable.

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