The rise of Bitcoin mixers is inevitable as people’s security and privacy consciousness grow. Because of the increased demand on anonymity and privacy while using Bitcoins, plenty of Bitcoin mixers have popped up from all corners. Not everything that claims that they are a “Bitcoin mixer” can be trusted tho. There are a lot of red flags that can be spotted when dealing with scamming Bitcoin mixers sites.
In this post, we will list different red flags that you need to be aware of to know if a Bitcoin mixer is legit. We will also be listing down tips on how to avoid being scammed by them and we will include a comprehensive list of sites that are scams.
HOW TO SPOT A FAKE BITCOIN MIXER
They imitate popular Bitcoin mixers’ URL
The first thing to look at if you’re dealing with a Bitcoin mixer is to check the URL that you are going to. Most of the fake mixing platforms out there are imitating the URLs of popular mixing services. For example, one of them disguised as smvrtmixer.io, which is almost identical to smartmixer.io. The former tho is there to scam you out of your hard-earned Bitcoins.
They imitate popular Bitcoin mixers’ website design
Some scammers out there are sophisticated enough to copy the website design of other popular Bitcoin mixers to pass as a legitimate. However, these sites are no less than a phishing site that aims to rob you off of your funds. While the designs might be identical, look at the subtle difference like correct spelling in text, hyper saturated images, and go back to the first tip above: check if you have the right URL.
They have bad reputation and no reviews
Not all scammers are copying popular sites. Some of them have their own URL, name, and website design. But don’t be fooled because they are nothing but scams. One thing to make sure that the Bitcoin mixing platform you are using is legitimate is to go to online forums and see if the site you’re in has a good reputation. If you’re unsure about a service, search for reviews online or on darknet discussion forums like Deepwebtalk.
Also, legitimate platforms have good amount of reviews, you might wanna search for online reviews of a certain platform before sending them your coins.
Identification by Blockchain Analysis
In the past, some Bitcoin mixers have been identified and tagged by using Blockchain analysis. If this happens, it totally defeats the purpose of using a supposedly anonymous mixing service. To check if a service you are considering may have been tagged, you might want to look at the following Blockchain Analysis website: https://walletexplorer.com.
Small Coin Pool
One of the biggest red flag to look for in order to avoid scammers is to check if the platform user has huge coin pools. If the service you are using only has a small reserve of Bitcoin, then depending on the size of your deposit you could end up receiving a part of or all of the same coins as you deposited on withdrawing. So if in case you want to deposit large amounts to a service, new and upcoming Bitcoin services are not your friend. Go with more popular options.
Bitcoin Mixers Scam List
Below is a list of Bitcoin mixers that you need to avoid as trusted sources have tagged them as scams. If you’re looking for Bitcoin mixers to use, you can read through our review section to get to know different reliable and trustworthy Bitcoin services you can opt to if you want to start mixing today.