US and German law enforcement agencies have shut down ChipMixer, an encryption service company, allegedly used to launder billions of dollars in illicit proceeds. #chinwa.tech_crypto
US and German law enforcement agencies have shut down ChipMixer, an encryption services company, allegedly used to launder billions of dollars in illicit proceeds, authorities said Wednesday.
Used by ransomware groups, suspected North Korean hackers, “dark web” marketplace users and vendors who bought and sold stolen financial information, the site also processed more than $3 billion in illicit transactions, according to the Department. of US Justice, which said Bitcoin is used by the device. Russian military intelligence to buy hacking tools is poured through the site.
German police seized $46 million worth of cryptocurrency as part of the operation, as well as the “web servers” used to operate the site, according to the country’s police.
“ChipMixer facilitated the laundering of cryptocurrency, specifically Bitcoin, on a wide international scale, inciting nefarious actors and criminals of all stripes,” U.S. Attorney Jacqueline C. Romero of the Eastern District of Pennsylvania said in a statement to avoid detection.
The service allegedly allowed criminals to block the source of the stolen cryptocurrency.
