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International operation paralyzes crypto mixer Chipmixer – creator could face 40 years in prison

An international operation was crushed Chipmixer, a service for mixing cryptocurrencies, who allegedly laundered more than $3 billion worth of cryptocurrencies, according to the US Department of Justice (DOJ). National authorities in the USA, Germany, Belgium, Poland and Switzerland were involved in the operation – with the support of Europol.

International operation paralyzes Chipmixer

The U.S. Department of Justice (DOJ) on Wednesday announced “a coordinated international shutdown of Chipmixer,” which it describes as “a dark web cryptocurrency mixing service responsible for the laundering of more than $3 billion worth of cryptocurrencies.” is” described. Europol, which supported the operation to shut down the mixed service, independently announced:

National authorities have shut down the platform’s infrastructure for its alleged involvement in money laundering activities and seized four servers, around 1909.4 bitcoins in 55 transactions (approx. 44.2 million euros) and 7 TB of data.

U.S. federal law enforcement agencies seized two domains that redirected users to the Chipmixer service and a Github account, while the German Federal Criminal Police Office (Bundeskriminalamt) seized the Chipmixer back-end servers and more than $46 million in cryptocurrency, the DOJ said detailed.

Chipmixer allowed its users to Bitcoin (BTC)deposits, which it “then mixed with other Chipmixer users’ bitcoins and mixed the funds in a way that made it difficult for law enforcement or regulators to track the transactions,” the Justice Department said.

“It functioned primarily as a Tor hidden service to hide the location of its servers and prevent law enforcement seizure,” the DOJ noted, adding that while the service has many US users, it is not among the Treasury Department’s Treasury Registered Crimes Enforcement Network (FinCEN) and did not collect any identifying information about its customers.

The Justice Department added that, as of August 2017, Minh Quốc Nguyễn, 49, of Hanoi, Vietnam, “created and operated the online infrastructure used by Chipmixer and promoted Chipmixer’s services online,” stating:

Nguyễn is accused of operating an unlicensed money transfer business, money laundering and identity theft. If convicted, he faces a maximum sentence of 40 years in prison.

What do you think of this case? Let us know in the comment section below.

International operation paralyzes crypto mixer Chipmixer – creator could face 40 years in prison, Crypto Trading News

Kevin Helms

As an Austrian economics student, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the interface between economics and cryptography.

photo credit: Shutterstock, Pixabay, WikiCommons

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Source: Crypto News Deutsch

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