What Monero Mixer Is — And What it is Not

Harmon was arrested in February for operating a steady of tumblers, or mixers, which Washington, D.C. prosecutors allege constitute unregistered money services businesses. Those charges against him say he laundered around $300 million in Bitcoin. According to today’s announcement,»FinCEN’s analysis has identified at least 356,000 bitcoin trades through Helix.»

Mixing services attempt to privatize cryptocurrencies by sending them through a huge series of transactions involving a variety of wallets. The process aims to obscure the origins of coins in addition to the entity accountable for these when they come from mixing. Harmon’s mixers were only accessible via the dark web.

So when a user sends his/her unclean coins to Smartmixer, these coins are saved in an proper coin-pool, and the user is sent different coins from one of the pools. These new coins are in no way linked to the older coins delivered by the consumer.

Smart Pool: Is the maximum volume-rich pool, as it comprises of coins from other users (standard Pool) + Smartmixer’s reservations + Investor’s money. Only retains coins out of the company reserves and investor’s cash. No real money from different users gets shipped here. Also costs the highest service fee.

FinCEN claims that Harmon deliberately flaunted the provisions of the Bank Secrecy Act, the cornerstone of U.S. Anti-Money Laundering legislation. It was offenses of the BSA that led to criminal charges from the executive group of crypto trade BitMEX before this month.

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