Cybercriminals' crypto platform ChipMixer seized in international operation
Greetings to my esteemed friends on the InformationWar platform and the entire hive blockchain. It's another time to share with you happenings around the cryptoverse and how efforts have been ongoing to crack down on cybercriminals and their hacking activities against crypto holders. It's your friend @faquan, saying hello from this part of the world.
One of the notorious cyber hacking organization have been suspended from international operation. This is truly a huge effort to bring down cyber fraudsters that have been disturbing the cryptoverse for years.
International authorities have cracked down on the cryptocurrency platform ChipMixer, alleging it helped obscure the digital money trail for online drug dealers, Russian military hackers and North Korean cybercriminals, Europe's Europol police agency and the U.S. Department of Justice said on Wednesday.
The cryptocurrencies platform have been said to have allegedly laundered about $3 billion worth of cryptocurrencies. The platform was seized by international authorities and on Wednesday it was confirmed that the site had been shot down with an inscription on the site reading: "THIS WEBSITE HAS BEEN SEIZED" and displaying the logos of German, American, Swiss and Polish law enforcement organizations.
The Justice Department said it had charged Vietnamese national Minh Quoc Nguyen, 49, with money laundering and identity theft in connection with the platform's operation. In its indictment, the department claimed that Nguyen openly flouted financial regulations and at one point told users of a Bitcoin forum that "'Money laundering' is a crime made-up by governments that spy on their citizens."
It should be noted that ChipMixer is an unlicensed crypto mixer that was established in 2017 and since then, it's activities had been fraudulent. Europol described it as "one of the darkweb's largest cryptocurrency laundromats" and said that more than 40 million euros ($42.2 million) worth of cryptocurrency had been seized.
Digital currency tracking service Elliptic, reported that ChipMixer have been involved in laundering Bitcoin worth about $844 billion and $666 billion worth cryptocurrencies in theft. This is enormous and could be said to be one of the highest crypto theft and laundering that has occurred since the inception of the ChipMixer.
Elliptic said in a blog post that ChipMixer was one of several mixers used to launder proceeds of hacks perpetrated by the Lazarus Group, a hacking gang that cybersecurity specialists and Western countries allege to be operated out of North Korea.
I'll conclude by saying that this seizing of ChipMixer is the right path towards the right direction and the international authorities shouldn't give up the fight against Cybercrime to enable crypto holders and exchanges to realize the full potentials of the platforms.
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