The team behind PrivCoin , the nonprofit cryptocurrency mixer has decided to shut down the website due to “new and extensive regulations” in the European Union. PrivCoin will be donating all of their profits to charities.
PrivCoin offered cryptocurrency mixing service, which is a service that mixes different streams of potentially identifiable cryptocurrency. This improves the anonymity of transactions, as it makes crypto harder to trace. PrivCoin used to be the only online service that offered Bitcoin, Ethereum, Litecoin and Bitcoin Cash mixing in a safe and fast way.
PrivCoin’s services were recommenced by some of the big DarkWeb markets such as Empire Market.
Last week, US authorities have arrested and charged an Ohio resident for running “Helix “, a Bitcoin mixer service that supposedly helped criminals disguise the origin of Bitcoin transactions.
