International Law Enforcement Shuts Down ChipMixer, World’s Largest Crypto Mixer Laundering $3.75 Billion

March 16, 2023.

In a coordinated effort, law enforcement agencies from Europe and the U.S. successfully dismantled ChipMixer, the world’s largest centralized cryptocurrency mixer service, which began operations in 2017. ChipMixer, used by cybercriminals to launder proceeds from activities like drug trafficking and ransomware attacks, facilitated the anonymous mixing of legitimate and illicit funds, blocking the blockchain trail. The takedown resulted in the seizure of $47.5 million in Bitcoin and 7 TB of data. Blockchain analytics firm Elliptic estimates that ChipMixer laundered at least $3.75 billion worth of digital assets, linking it to criminal schemes, including those by North Korea’s Lazarus Group, ransomware crews, and darknet market customers. A 49-year-old Vietnamese national, Minh Quốc Nguyễn, has been charged for creating and running ChipMixer’s online infrastructure. The crackdown highlights ongoing global efforts to combat cybercrime, following recent actions against ransomware gangs and previous crackdowns on other mixer services.

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