Wirex will support Bitcoin Cash

Wirex banking platform announced its support for Bitcoin Cash cryptocurrency
20 November 2017   2815

Wirex, a cloud-based headquartered in London personal banking platform that offers Bitcoin debit cards, remittances, and mobile banking, made an announcement on November 18 stating that it will support Bitcoin Cash. The same was described in the official twitter account of the currency itself.

As it was stated in the announcement, the development team has invested significant time in understanding technical implications and now they were given the green light in the development of the Bitcoin Cash Wallet.

Our top priority is the security of our customers’ funds, so we needed to ensure we could support this safely and securely on our network before saying anything.

Wirex Team

The users who had Bitcoin in their Wirex wallet during the Bitcoin Cash fork are claimed to receive the equivalent amount of Bitcoin Cash which will be credited into Bitcoin Cash Wallet once it will be released. The release of the wallet will follow the Dash Wallet integration which was also announced in the beginning of October 2017.

Currently Wirex allows users to link Bitcoin Wallets to Visa and MasterCard debit cards in up to three fiat denominations.

At the time of press Bitcoin Cash has a price of $1198, market capitalisation of $20 billion and 24h Volume of $1,3 billion.

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   271

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.