Dark web Crypto “Laundromat” ChipMixer closed by Authorities

ChipMixer, a popular dark web cryptocurrency “laundromat,” has been shut down by authorities. The platform, which allowed users to mix their cryptocurrency transactions to enhance privacy, was targeted by law enforcement due to its use in money laundering and other illegal activities. This move is part of a broader crackdown on illicit activities in the cryptocurrency world. The closure of ChipMixer is a significant blow to those who rely on the anonymity of cryptocurrencies for nefarious purposes. The authorities are committed to ensuring that such activities are stopped, and those responsible are brought to justice.

German and U.S. authorities have collaborated to close down Chipmixer, one of the biggest cybercriminal organizations focused on cryptocurrencies. Belgian, Polish, and Swiss authorities also supported the investigation, during which four servers were found to have laundered over 19,000 Bitcoin in 55 transactions worth around $45 million. Europol stated that 152,000 Bitcoin may have been laundered on the platform. Chipmixer, an unlicensed cryptocurrency mixer, allowed criminals to anonymize their digital funds through its software. The laundered funds were converted into “chips” of equal value, which could be exchanged for other cryptocurrencies or government-issued FIAT currency anonymously. Additionally, authorities are investigating the possibility that some stolen digital assets after the bankruptcy of a major cryptocurrency exchange in 2022 may have been laundered through Chipmixer. Europol and the US Federal Bureau of Investigation (FBI), Homeland Security, and Department of Justice participated in the operation.

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