Threat Management

ChipMixer service disrupted after laundering over $3B

The FBI, Europol, and other international law enforcement agencies have dismantled cryptocurrency mixing service ChipMixer, which has been leveraged to facilitate the laundering of more than $3 billion in cryptocurrency since 2017, including funds stolen from the Axie Infinity and FTX crypto exchange hacks, reports The Verge. ChipMixer's cryptocurrency assets worth $46 million, as well as its GitHub account and domains have also been seized as part of the operation, according to the U.S. Justice Department. Moreover, ChipMixer owner Minh Quc Nguyn has been charged with money laundering, identity theft, and unlicensed operations. "ChipMixer facilitated the laundering of cryptocurrency, specifically Bitcoin, on a vast international scale, abetting nefarious actors and criminals of all kinds in evading detection. Platforms like ChipMixer, which are designed to conceal the sources and destinations of staggering amounts of criminal proceeds, undermine the publics confidence in cryptocurrencies and blockchain technology," said Jacqueline Romero, a U.S. attorney for the Eastern District of Pennsylvania.

Get daily email updates

SC Media's daily must-read of the most current and pressing daily news

By clicking the Subscribe button below, you agree to SC Media Terms and Conditions and Privacy Policy.