The story
From the name of a street gang in Birmingham, the Peaky Blinders, who got their name From the peaked caps their members wore, and from blinder (“exceptional performance”) or from the practice of pulling a victims hat over his eyes so that he could not identify his attacker. There is a folk etymology claiming the "blinder" part of the name comes from the practice of stitching razor blades or weights into the peak of the cap and using it as a weapon to blind one's opponent, but this has been shown to be apocryphal.
Etymology from Wiktionary, CC BY-SA 4.0.