Topic: After Chipmixer, Is Sinbad.io Next To Be Shutdown? - page 3. (Read 1053 times)

It is inevitable that most if not all banks have been used by criminals for nefarious activities. How many closures have we had as a result of that? Even when banks engage in scams, they just get a slap on the wrist.

This is a grey area as minimizing or eliminating risk by mixers would mean censoring transactions just as centralized exchanges do and would lead to even more centralization of bitcoin channels.
The government can play Russian Roulette with mixers but the end is definitely not to put a stop to illegal activities.

- Jay -

Eh, JollyGood is just asking a general question that's probably on the minds of quite a few members here, and as far as criminals using any mixer service....that's similar to the argument that bitcoin or [name your cryptocurrency] is/has been used for illicit purposes and therefore is bad.  It's a silly argument against crypto, and if it were valid then fiat should be bad as well as all guns, knives, and anything you can think of that's been the tool of criminals.

Who knows what the government is going to go after and with what amount of resources?  It seems as though all things crypto are under the microscope at the moment but that could change.  I do hope there are some powerful bitcoiners with political influence lobbying for us, because the little guys like myself can't really do much of anything to sway those politicians looking to criminalize mixers and whatever else.

Full disclosure, while posting this I am wearing a sinbad signature.

I think, over time all mixers are going to be shut down by various government entities. Even if they are doing nothing illegitimate, for some reason everybody in law enforcement sees them as illegitimate. I will also say, with more and more exchanges that are not requiring KYC going away I see privacy becoming more and more difficult to obtain.

Continuing with that thought, I have posted many times about various ways to somewhat reliably break proof of ownership of coins. It requires time and effort a decent knowledge of exchanges and (this is important) hunting down exchanges that consider a simple SMS and e-mail address enough KYC for a certain level of withdrawals. Because, if you deposit coins in one exchange using a disposable e-mail and phone number, convert them to another coin, transfer that coin to another exchange that just requires an e-mail address and disposable phone number, and then withdraw from that second exchange after converting to another coin good luck ever being able to prove anything especially if you used XMR or other privacy coins to transfer between exchanges.

Tinfoil hat paranoia, the last mixer that is left standing is run by the NSA....

-Dave

It's a little difficult for me to understand the purpose and goal of this kind of thread, especially in the reputation section. We have to play guessing when a service will be shut down. Maybe pool voting should be started, how long will it last?
Why single out only Sinbad, why not include the other mixers as well? Maybe to run some contest or giveaway.
Is Whirlwind.money excluded from this dilemma even though they are engaged in the same type of business, or just because you didn't find a single article about it? Or because you wear their signature.

Given that you wear the Whirlwind money signature, I assume that you are considered part of their team in some way. Isn't it a little inappropriate to negatively spin competitors without a valid reason?

Do you know how long Chipmixer has been in business, and do you believe that it was only used by criminals in the last few months, so that was the reason for the investigation?

Pointing at Sinbad.io is also referring to other mixer service providers. The prediction that it will be the next to be shut down by law enforcement agencies is mere speculation, who knows another one might be the next because they offer almost the same service. After all, nobody expected the sudden closure of the almighty Chipmixer because no publication predicted it. We can not doubt that these mixer services are needed to promote privacy and limit centralization. But like other genuine services, criminals will always capitalize on this wonderful service to carry out their evil activities. Relating Sinbad with Blender is mere rumors that have not been proven even the website publication used the word "may", which means that they are not sure that Sinbad is an offshoot of Blender.

Mehdi is confident of his fate though and most peobably if he even get caught he will also accept whatever sentence given.

He seem to have roam around bitcointalk since he shared the link https://bitcointalksearch.org/topic/2023-list-bitcoin-mixers-bitcoin-tumblers-websites-2827109 emphasizing several anon services were not seized by governments.

If I were NoKor hacker, I would actually be spreading that $1.7B in different anon services. Sinbad only got $10M, thats too small.

Then why did you join the signature campaign of one of the mixers? No offence, I am just asking because I think you shouldn't join advertising what you think are used by criminals.

But that does not mean that good people are not using mixers too. Even before bitcoin, there were online criminals.

It is inevitable that most if not all mixers will be used for (or will be attempted to be used by criminals for) nefarious purposes but when headlines such as "The world’s most prolific crypto thieves have used Sinbad.io to launder tens of millions" are associated with a brand it means their days are numbered.

I found this article in Wired.com interesting on several levels such as the creator of sinbad.io who wants to be known as Mehdi named the mixer Sinbad after the fictional sailor that travelled far by sea. In the interview Mehdi seemed to comment on almost everything that was being discussed but when asked if Sinbad was a new version of the now defunct Bitcoin mixer Blender, he refused to comment.

"Elliptic" is a crypto tracing company and they have suggested there is irrefutable evidence $22 million moved from Blender to Sinbad in the very early days after Sinbad was created therefore that doubles the reasons why it will probably be the next mixer to be shut down sooner rather than later.

Sinbad.io probably does not have too much time before various law enforcement agencies get together to organise the shutdown of their website and try to arrest the owner/operator on money laundering charges. If criminal activity as taken place on an industrial scale and almost zero protocols were put in place to either reduce, minimise or eliminate the risk of illegal activity by the owner/operator they will end up facing serious criminal charges.