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US, German Authorities Take Down Cryptocurrency Laundering Service

German and U.S. authorities on Wednesday took down ChipMixer, an unlicensed cryptocurrency mixing platform suspected of laundering almost €3 billion of Bitcoin for crime syndicates across the globe since 2017.

Europol, the EU’s law enforcement agency, said in a statement that U.S. and German authorities, supported by investigators in Belgium, Poland and Switzerland, seized the online platform, which obscured parties involved in cryptocurrency transactions and in doing so helped criminals disguise the proceeds of drug trafficking, weapons trafficking, ransomware attacks and other crimes.

Investigators seized four servers, seven terabytes of data and more than €40 million of Bitcoin linked to ChipMixer, which prior to Wednesday ranked among the world’s most popular cryptocurrency mixing platforms. The operation follows the German and U.S. takedown of the Russian darknet Hydra Market platform last April. may update this coverage as more information becomes available.
Topics : Anti-money laundering , Cryptocurrencies
Source: European Union , U.S.: Law Enforcement
Document Date: March 15, 2023