$50 million worth of bitcoin seized from crypto launderer

Europol-backed authorities bust a major crypto launderer and seize 1,909 bitcoins worth About $50 million,

Europol announced via a press release that they have destroyed Chipmixer, one of the largest crypto mixers in the world. During the operation, the agencies seized bitcoins, four servers and seven terabytes of data.

Chipmixer facilitated laundering

According to Europol, Chipmixer has operated since 2017 and facilitated the laundering of 152,000 bitcoins (about $3.69 billion). Lastly, the press release states, “A large part of this is linked to darkweb markets, ransomware clusters, smuggling of illegal goods. purchase of child sexual abuse material, and theft of crypto assets.

It was a joint operation involving Europol and agencies from Belgium, Germany, Poland, Switzerland and the United States.

Screenshot from Europol announcement
Source: Press Release

according to an old do From on-chain spy ZachXBT, FTX hackers transfer funds to OKX exchange via ChipMixer. A crypto mixer is an external service that can obfuscate data linking an address to crypto transfers. It can be used by those who want to keep on-chain transactions private.

FTX hackers used chipmixer
Source: Twitter

In January, Europol and Eurojust busted a crypto fraud network and seized over $1 million in cryptocurrencies and €50,000 in cash. They arrested 15 people operating from Bulgaria, Cyprus and Serbia.

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BeInCrypto has reached out to the company or the person involved in the story for an official statement regarding the recent development, but has yet to hear back.

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