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European authorities seized more than €25 million in bitcoin and shut down a crypto mixing service that laundered €1.3 billion since 2016, Europol announced Monday, in a coordinated operation between Swiss and German police that confiscated 12 terabytes of criminal transaction data and the platform’s servers.
After the illegal service was taken over and shut down, law enforcement placed a seizure banner on the website as Europol confirmed in a press release. The operation disrupted a key infrastructure used by cybercriminals across Europe.
The Cryptomixer shutdown was spearheaded by European authorities, with Eurojust also providing judicial cooperation.
The platform, which operated both on the clear web and the dark web, specialized in obfuscating the flow of cryptocurrencies.
Criminals involved in ransomware, drug trafficking, weapons sales, and card fraud relied heavily on Cryptomixer to make their illicit funds appear legitimate before moving them into exchanges or converting them to fiat currency.
Platforms like Cryptomixer are a serious threat to financial security in Europe, stated Catherine De Bolle, Executive Director of Europol.
This shutdown not only removes a major tool for cybercriminals but also sends a strong message: the European Union is committed to stopping crypto-enabled crime.
According to Europol, since its inception in 2016, Cryptomixer has processed over €1.3 billion in Bitcoin.
The software’s sophisticated algorithms made transactions virtually untraceable on the blockchain, giving criminals a safe haven to hide proceeds from illicit activities.
The criminal use of digital currencies is evolving rapidly, said Fredrik Svahn, Eurojust spokesperson. Operations like the Cryptomixer shutdown demonstrate our ability to respond to these sophisticated threats in real time.
Authorities highlighted that crypto mixers like Cryptomixer play a critical role in laundering funds before they reach exchanges.
By converting tainted digital assets into “clean” Bitcoin or other cryptocurrencies, criminals can seamlessly enter the wider financial ecosystem.
The seizure of €25 million in Bitcoin represents just a fraction of the funds processed by the platform over the years.
The Cryptomixer shutdown has not only seized over €25 million in Bitcoin but also exposed the scale of dark web criminal networks relying on crypto mixers to launder illicit funds.
Europol confirmed that the platform processed billions in digital assets since 2016, making the Cryptomixer shutdown a landmark case in Europe’s fight against cybercrime.
By disrupting the service, authorities have highlighted how criminals use crypto mixers like Cryptomixer to conceal money from ransomware, fraud, and illegal marketplaces.
The Cryptomixer shutdown underscores the EU’s commitment to ending cryptocurrency-enabled financial crime.
The Cryptomixer shutdown also highlights the EU’s commitment to combating cybercrime on the dark web.
The operation exposed not only the platform’s servers but also a trove of data that could lead to further prosecutions of criminal networks using the service.
In March 2023, Europol had similarly dismantled the Chipmixer platform, which processed over $3 billion in cryptocurrency over six years.
Experts suggest that the Cryptomixer shutdown builds on previous successes, indicating an increased European focus on preventing money laundering via digital assets.
The sophistication of crypto-enabled crime requires a coordinated, multinational response, added De Bolle. The Cryptomixer shutdown is a blueprint for future operations targeting illegal mixers across Europe.
As European law enforcement continues to monitor illicit cryptocurrency activities, the Cryptomixer shutdown serves as a stern warning to cybercriminals: authorities are watching, and no crypto mixer is beyond reach.
