An international coalition of law enforcement agencies announced on Wednesday that it had taken down the popular dark web crypto laundering service ChipMixer, seizing more than $46 million in crypto and terabytes of server data.
“The platform and the criminal content have been seized,” ChipMixer’s website now reads.
“The ChipMixer software blocked the blockchain trail of the funds, making it attractive for cybercriminals looking to launder illegal proceeds from criminal activities such as drug trafficking, weapons trafficking, ransomware attacks, and payment card fraud,” Europol wrote in a press release. “Deposited funds would be turned into ‘chips’ (small tokens with equivalent value), which were then mixed together – thereby anonymizing all trails to where the initial funds originated.”
ChipMixer launched in mid-2017 and, according to Europol, it was allegedly used to facilitate the laundering of 152,000 Bitcoins, worth almost $2.5 billion.
The service was popular with hackers, as it was used by ransomware groups such as LockBit, Mamba, and SunCrypt, according to Europol.
The operation was coordinated by Europol working with Belgium’s Federal Police; Germany’s Federal Criminal Police Office, and General Prosecutors Office Frankfurt-Main; Poland’s Central Cybercrime Bureau; Switzerland’s Cantonal Police of Zurich; and in the U.S. the Federal Bureau of Investigation and ICE Homeland Security Investigations.
Corrected the value of laundered bitcoin as billions, not millions, due to an editor’s error. ZW
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Police shut down dark web crypto laundering service linked to FTX hack by Lorenzo Franceschi-Bicchierai originally published on TechCrunch
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