FBI and Europol shut down cryptomixer ChipMixer and seized €44 million worth of bitcoins

FBI and Europol shut down cryptomixer ChipMixer and seized €44 million worth of bitcoins

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Author: Robert Strickland (crypto expert)
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FBI and Europol shut down cryptomixer ChipMixer and seized €44 million worth of bitcoins
Authorities in several countries shut down the platform's infrastructure, confiscating four servers and 7 terabytes of data

The FBI, Europol, and law enforcement agencies in several European countries shut down the cryptocurrency mixing service ChipMixer and seized €44 million worth of bitcoins, the European Union police service said. German and U.S. authorities, supported by intelligence agencies in Belgium, Poland, and Switzerland, shut down the platform's infrastructure.

Four servers, 7 terabytes of data, and 1.9 thousand bitcoins (€44.2 million) were confiscated during the operation. The platform's website is also no longer working, and when you go to it, it says that the domain was seized by the FBI by order of a U.S. court.

Cryptomixers are blockchain services that increase the confidentiality of transactions by hiding the connection between the source and recipient of the tokens.

According to Europol, ChipMixer, a service created in mid-2017 to anonymize bitcoin flows, offered complete anonymity to its customers. Law enforcement authorities speculate that the cryptomixer was involved in money laundering and allowed users to hide traces of crimes, such as drug or weapons trafficking, extortion attacks, and fraud. The platform is believed to have laundered 152,000 BTC (about €2.73 billion), the report said.

Cryptomixing services are under close scrutiny by intelligence agencies because they are often used by fraudsters, and many hackers send stolen digital assets to them after hacks are committed to cover their tracks.


Also in August, alleged Tornado Cash developer Alexei Pertsev was arrested. He is still in custody awaiting trial. The cryptomixer itself has not been shut down and continues to operate.

 

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