Cryptomixer ChipMixer - One of the darkweb’s largest cryptocurrency laundromats washed out

FanJ · Mar 15, 2023

Europol - 15 Mar 2023
One of the darkweb’s largest cryptocurrency laundromats washed out
https://www.europol.europa.eu/media...largest-cryptocurrency-laundromats-washed-out

German and US authorities, supported by Europol, have targeted ChipMixer, a cryptocurrency mixer well-known in the cybercriminal underworld. The investigation was also supported by Belgium, Poland and Switzerland. On 15 March, national authorities took down the infrastructure of the platform for its alleged involvement in money laundering activities and seized four servers, about 1909.4 Bitcoins in 55 transactions (approx. EUR 44.2 million) and 7 TB of data.
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ChipMixer, an unlicensed cryptocurrency mixer set up in mid-2017, was specialised in mixing or cutting trails related to virtual currency assets. 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. Deposited funds would be turned into “chips” (small tokens with equivalent value), which were then mixed together - thereby anonymising all trails to where the initial funds originated.
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Ransomware actors such as Zeppelin, SunCrypt, Mamba, Dharma or Lockbit have also used this service to launder ransom payments they have received. Authorities are also investigating the possibility that some of the crypto assets stolen after the bankruptcy of a large crypto exchange in 2022 were laundered via ChipMixer.
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Cryptomixer ChipMixer - One of the darkweb’s largest cryptocurrency laundromats washed out

FanJ Updates Team

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Cryptomixer ChipMixer - One of the darkweb’s largest cryptocurrency laundromats washed out

FanJ Updates Team

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