Litecoin Foundation Launched LTCPay Service

The users can use LTCPay for free to accept Litecoin payments into their own wallet conveniently
16 April 2018   1610

Charlie Lee, the creator of Litecoin has announced in his Twitter account that the new project of Litecoin Foundation went live. LTCPay is a free service for merchants to accept Litecoin for their business. It is compatible with Bitpay service to allow seamless migration, and merchants do not need to trust LTCPay to accept payments since all payments go directly to merchant's wallets.

LTCPayLTCPay

Lightning Network is enabled within the service, and the users can use LTCPay for free to accept Litecoin payments into their own wallet conveniently. LTCPay supports many APIs, and the reports and invoices can be generated. Fiat conversion is currently not supported yet.

At the moment of press, these are main market parameters of Litecoin:

  • Average Price: $126,75
  • Market Cap: $7 111 730 878
  • 24h Vol: $287 061 000

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   375

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, Bestmixer.io 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.