OpenBazaar will integrate Bitcoin Cash, Zcash and Litecoin

OpenBazaar marketplace will add support for a few different altcoins including Bitcoin Cash and Zcash which are in the testing phase already, and integrate Litecoin
21 December 2017   2820

OpenBazaar is a free online marketplace and a peer to peer application that doesn’t require middlemen, has no fees and no restrictions. On December 20, OpenBazaar published the list of development updates in its blog, where it was stated that shortly after launch Bitcoin fees significantly increased, making buying and selling everyday items and services difficult on OpenBazaar.

In order to present more options to users so that they can avoid Bitcoin fees, OpenBazzar marketplace team will start working to integrate the coins Bitcoin Cash, Zcash and Litecoin.

Testing for Bitcoin Cash and Zcash has begun and OpenBazaar is at the beginning stages of exploring how Litecoin integration would work.

It is worth noting that all the cryptocurrencies that the marketplace is going to add are showing the increase in price, for example Bitcoin Cash has risen 98.25% within past week, and Litecoin has grown 10.85% while Zcash jumped 54.28% during the same amount of time.

At the moment of press, the prices of the cryptocoins are as follows:

  • Bitcoin Cash: $3 742,47
  • Litecoin: $327,76
  • Zcash: $710,63

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   76

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.