A popular cryptocurrency mixing service called Bitcoin Blender has recently shut down, after running for nearly five years in the cryptocurrency space. The service’s admins have asked users to withdraw their funds.
As first reported by Bleeping Computer, Bitcoin Blender is shutting down merely a week after a leading bitcoin mixing service, Bestmixer, was seized by authorities in the “first law enforcement action of its kind” against a cryptocurrency mixing service. As Europol explained in a press release:
A cryptocurrency tumbler or cryptocurrency mixing service is a service offered to mix potentially identifiable or ‘tainted’ cryptocurrency funds with others, so as to obscure the trail back to the fund’s original source.
Typically, these services take a small commission between 1% and 3% of the total amount of cryptocurrency mixed. It isn’t clear whether Bitcoin Blender shut down because of Bestmixer’s downfall, or for other reasons.
The service, which has been running since 2014, merely added a message to its platform informing users it was going to shut down, and asking them to withdraw their funds. An account on the popular Bitcointalk forum associated with the service further confirmed the news.
Bitcoin Blender worked as a hidden service on the deep web, and has a website on the clear net directing users to it with information on the service. While the hidden service has been shut down, the informational website is still up.
Reacting to the service shutting down some users started asking about alternative bitcoin mixing service, with various services appearing to fill in the gap. Some replied that mixing services may not be secure anymore, and advised the use of the privacy-centric cryptocurrency Monero.