Bitcoin is not actually completely anonymous (pseudo-anonymous), so encrypted mixers were born. ---Vladimir • editor
A Bitcoin address will not be linked to a real identity in real life, but if done incorrectly, it actually will.
We can trace back to a particular transaction by associating multiple nodes in the blockchain, and then know who sent the transaction by analyzing the blockchain data and KYC/AML data, and even include more details, Such as: location, transaction reason, etc.
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First, take a look at our survey results
Most bitcoin mixers will mix the bitcoins that the user needs to send and the mixers own reserves, and then send the mixed bitcoins to the address requested by the user. It is possible to still receive some of your coins or even tainted coins.
Unlike ChipMixer, users need to send bitcoins to the address provided by ChipMixer first, and then obtain a Chip with an equal amount of bitcoins from ChipMixer (actually corresponding to the private key, the user can import the wallet and freely decide when and where to send it) currency). Its a bit like buying a QQ point card (exposing your age).
Each Chip is pre-set with a bunch of private keys by ChipMixer, and a specific amount of Bitcoin is deposited to its corresponding address. The value is 0.001BTC, 0.002BTC, 0.004BTC... up to 4.096BTC. For example, we sent 0.1BTC to the address of ChipMixer, and then we can receive 3 Chips, which store 0.064BTC, 0.032BTC and 0.004BTC respectively.
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So here comes the question, where do the coins in the Chip come from?
These coins are coins transferred from previous users, which may contain coins stolen by hackers.
The innovation of ChipMixer is to use the private key to change the ownership of the digital currency, instead of getting the contaminated currency and washing it directly. However, the transaction record of depositing coins to the address corresponding to the Chip private key is still kept in the blockchain. Although it is difficult to trace back, it is not impossible.
We originally just wanted to increase the security and anonymity of the transaction, and transferred the clean coins to the ChipMixer address, but in the end we received tainted bitcoins. When we receive it, there may be no problem with the coins, but after a few weeks or months, a hackers case is solved, and the coins we receive are definitely tainted. This is where the problem lies.
In the fiat world, this question can be traced back to a real legal case in the 17th century. The conclusion of the case is that if you receive a banknote involving theft and the police later investigates that the banknote has been traded several times before reaching your hands after the theft, the police have no right to Withdraw this note from your account.
The same is true for digital currency. If you receive a coin that you did not steal, what does it matter?
When we use ChipMixer, when we receive the private key, we will also receive a signed receipt stating: The bitcoins in these Chips are from ChipMixer.
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So are you still willing to use ChipMixer?
While most coin mixing services are used by users who place particular value on anonymity and hacker resistance, coin mixing services are still the first choice for criminals to launder their money. It is all too common for mixer users to receive coins laundered by hackers and scammers.
The cryptocurrency industry has been plagued by controversies, hacks, and scams, yet it continues to evolve and grow. The system is constantly improving, and at some point in the future, 10% of the billions of mixed bitcoins will not be able to be used for transactions, or will be devalued for transactions. What would you do if you got caught?
If you dont want others to know where you sent your digital assets and how much digital assets you own, or if you dont want a transaction to be linked to a previous transaction, ChipMixer is definitely a very good choice.
But are you still willing to use the known risks?
