UPayCard added support for Bitcoin Cash

UPayCard – a service for cryptocurrency payments – announced support for Bitcoin Cash on their platform
01 June 2018   1740

Crypto enthusiasts around the world constantly face the same problem, regardless of the country – inability to use their coins to make real-life purchases at the local store. As usual, with the demand came the offer in form of different services with different approaches to the problem. Some provide payments though the special POS terminal, while the others, like UpayCard, go in the opposite direction. UPayCard provides a whole platform for storage and spending of your cryptocurrency via an app, or with a pre-paid physical card.

UPayCard has been mostly on the good side o the community, but the lack of support for all th diverse coins out there has been a long grumbling point with the clients. Now they wouldn't have so much to complain, because the company during the latest expansion has added support for Bitcoin Cash, which has been steadily growing in popularity with users and vendors alike.

“Bitcoin Cash is the latest cryptocurrency to join the growing list of UPayCard’s crypto offerings. Bitcoin Cash brings sound money to the world, fulfilling the original promise of Bitcoing ‘Peer-to-Peer Electronic Cash’. Merchants and users are empowered with low fees and reliable confirmations.” - was published on the company's website (original grammar at the time of posting preserved).

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   496

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.