Law Enforcement Agencies Shut Down Cryptocurrency Platform ChipMixer


15th March 2023 – (Brussels)

In a collaborative effort between various global police and justice departments, ChipMixer, a popular unlicensed cryptocurrency mixer, has been dismantled. According to Europe’s Europol police agency, the crackdown on ChipMixer has resulted in the seizure of up to €40 million ($42.2 million) of illegal proceeds.

ChipMixer was created in mid-2017 and quickly became a popular option for cybercriminals looking to launder virtual currency assets. The platform specialised in hiding the blockchain trail of funds, making it an attractive option for those looking to launder illegal proceeds from drug trafficking, weapons trafficking, ransomware attacks, and payment card fraud.

Europol revealed that the operation to take down ChipMixer was the result of a collaborative effort between law enforcement agencies in Germany, the United States, Belgium, Poland, and Switzerland. These departments worked together to dismantle ChipMixer’s infrastructure, which was instrumental in facilitating the laundering of illegal proceeds.

As a result of the coordinated effort to shut down ChipMixer, up to €40 million ($42.2 million) of illegal proceeds have been seized. This has dealt a significant blow to cybercriminals who were using the platform to launder their ill-gotten gains.