Some of it maybe, but really how tumbling works is that you dump a bunch of bitcoins into a big pot, and through some side channel record how many of those bitcoins are yours. Then later you withdraw a different set of coins, not in the same amount you put in, to some other account that you then cash out. So basically the chain of custody is broken by the tumbler service not keeping that out-of-band record of your transaction. Classic money laundering.
Of course if you happen to choose a tumbler that’s being run by a law enforcement agency your goose could be cooked.
