Why It’s so Difficult to Launder Money on the Blockchain - CryptoGlobe
However, while the early days of Bitcoin may have been littered with unscrupulous transactions, modern advances in blockchain analysis mean that it is far more difficult to launder money on the blockchain than many realise. An alternative method of laundering illicitly obtained cryptocurrencies is by using a centralised mixer service, such as Bitcoin Laundry, which mixes your transactions with other users’ transactions using an algorithm, in order to obscure your transaction history.
However, while mixer services are more effective that manually mixing transactions yourself, it’s still possible for both human analysts and blockchain analytic software to trace coins passed through a hosted mixer service. Tracing Transactions Got a Whole Lot Easier While mixing coins and transactions can help to obscure transaction history and launder cryptocurrencies on the blockchain, technology continues to evolve to allow us to trace funds, no matter how they have been mixed.
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