Vee Finance, a decentralized finance platform, has officially confirmed its hack on Avalanche. On September 20, the hacker managed to transfer funds worth $35 million. In terms of assets, it was 8804.7 ETH (around $26 million) and 213.93 BTC (around $9 million). According to the report, the stablecoin was left untouched. As for the hacker, the report confirms that they have not yet transferred or processed the funds. The team is working to provide more details of the incident. Further,…
Ever since Bitcoin entered the market nearly ten years ago, there has been a desire to conduct anonymous transactions on the blockchain. In its early days, many people wrongly assumed that Bitcoin provided anonymity. Today we know that this is just not the case.
There are various block explorers and forensic tools that can reveal the details of a Bitcoin transaction. These advanced protocols enable law enforcement, and, really, whoever wants to track down the sender or receiver of Bitcoin transactions. These capabilities are now common knowledge within the sector. Consequently, there is more demand for coin mixers than ever.
What is a Coin Mixer?
A coin mixer is the industry’s response to the growing number of blockchain forensic platforms entering the market. Mixers can work in a variety of different ways depending on the particulars of the platform. The one characteristic that all mixers share is that they attempt to hide a transaction’s details by mixing your Bitcoin with other Bitcoin from other parties.
What is Mixertumbler?
Mixertumbler is a fourth-generation mixer that integrates the latest anonymization protocols to keep your privacy intact. Mixertumbler permits users to enjoy untraceable purchases, make anonymous donations, and trade securely on exchanges. Since its inception, Mixertumbler has provided the crypto market with essential tools to remain safe.
How Mixertumbler Works
The Mixertumbler process is straightforward. You select to click on the Mix Coins button, and you will arrive at a window that asks for your receiving address. This is where you want to receive your Bitcoin after mixing it with other coins. Be sure that you make no mistakes entering this address, or your Bitcoin will be gone forever.
As part of their anonymity strategy, users must set their own custom delays—this delay signals when you want to receive your coins. You must set your delay to match your transaction’s time restraints. Specifically, you have the option to set the delay from 30 minutes to 1200 minutes. This strategy adds an extra layer of security as it becomes tough for anyone to trace your coins to a specific timeline when they arrive at your preset time.
The next step in the mixing process requires confirmation. Basically, before your Bitcoin can mix, it needs to receive confirmation from the blockchain nodes. Usually, three confirmations are enough to get the mixing process started. However, the larger the mixing request, the more confirmations the system will require.
You will start to receive your mixed Bitcoin when your preset time delay expires. Critically, your mixing address will remain active for 24-hours. After that point, you will need to re-enter a new destination.
Reasons to Mix Your Bitcoin
There are endless reasons why someone would want to mix their Bitcoin. Anonymity is vital in a digital society. Consequently, mixing services such as Mixertumbler ensure that these rights remain intact. Here are just a few of the reasons someone would want to mix their Bitcoin.
Coin mixers allow you to support the causes you believe in anonymously. You can donate mixed Bitcoin to charities, organizations, and even family members.
Extra Security from Hackers
It’s not difficult for hackers to figure out your identity and target your holdings in this digital landscape. Using a coin mixer, you can hide the true destination of your holdings. In this way, digital snoops aren’t able to pry into your personal life.
Protection from Thieves
Along the same line of thought are real-world thieves. There are many stories of people having their home broken into by thieves in search of Bitcoin. Sadly, in most of these scenarios, the thieves plan to “coerce” the coin holder to give up his private keys.
Protection from Governments
There have been multiple instances in time when governments confiscated gold from their population. During these times, the government will make it mandatory to deliver your assets to an assigned location or face penalties. A coin mixer helps you keep your holdings safe from officials who may have other intentions.
Mixertumbler – Peace of Mind
It’s good to know that platforms such as Mixertumbler still exist in the market. As of lately, there has been more pressure on these organizations to cease operations. However, because they serve a vital role in the community, there is no chance that mixers will ever completely leave the scene. For now, Mixertumbler continues to provide users the security and protection they desire.