Five Million Users reached by Philippines’ Crypto Wallet

Philippines’ reported it reached an immense 5 million users this week for its mobile payments application and hot crypto wallet
31 May 2018   1494

The company also declared it is going to add 2 new popular coins: bitcoin cash (BCH) and ether (ETH). 

We are excited and proud to provide 5 million customers with access to financial services. Our focus on creating financial inclusion to all Filipinos has propelled our growth to date. Millions of our customers have already used’s web and mobile apps to access a wide array of financial services, including buying load, paying bills, topping up their beep™ card, and purchasing digital currencies, all without needing a bank account.
Ron Hose
CEO, Philippines’

Large part of the southeast Asian archipelago’s citizens struggle with inadequate economic possibilities and poor financial services. About a half of the Philippines is living on approximately $2 a day, and its central bank, Bagko Sentral ng Pilipinas, expected early last year that 86% of Philippines’ citizens are unbanked and cannot use basic banking services as the folks in the West do every day.

Five million users has come in only 4 years for the firm. It was established by Runar Petursson and Mr. Hose, both Silicon Valley veterans. So, their services are a way for Filipinos to become banked, a potential market of over 300,000 people. In the past 2  years, it has grown a common of $10mil in venture capital funding, indicating investors believe the company to be “on” to something.

Responding to consumer demand for additional blockchain-based services with an eye for future smart contract based financial services, and will also begin supporting Bitcoin Cash (BCH) next month, in an effort to support lower cost blockchain based payments.
Ron Hose
CEO, Philippines’

The customers of the firm’s platform can receive all the advantages of ever-important remittance services, card top-ups, wallet transfers, paying bills, and even online shopping. 

Dutch Authorities to Shut Down Bestmixer

The service is accused of launder over $200M worth crypto with coin "mixing" - spliting the amount and mixing it with other coins from different sources
23 May 2019   262

The Bitcoin mixing service Bestmixer was forced to cease operations after a nearly one-year investigation of money laundering charges. It is reported by Bleeping Computer.

Like other similar services, split the amount in bitcoins into smaller transactions and mixed them with transactions from other sources in order to hide their origin, and then transfers the entire amount minus the commission to the final address.

It also offered similar services with Litecoin and Bitcoin Cash.

The investigation believes that service customers could launder money through cryptocurrency.

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. Offering such a service is considered illegal in many countries.

John Fokker

Head of Cyber Investigations, McAfee

Bestmixer was opened in May 2018. For the year of its existence, its turnover amounted to about 27,000 BTC (approximately $ 200 million). Fiscal Information and Investigation Service claims that a significant part of the funds passed through the mixer was obtained as a result of conducting illegal activities or was used to finance criminal gangs.

Policemen confiscated a domain and six servers in Luxembourg and the Netherlands. In addition, they got access to all transactions carried out using the service, cryptocurrency and IP-addresses, as well as messages from the chat. This information is currently transmitted to Europol.