International Operation Takes Down Crypto Mixer Chipmixer — Creator Could Face 40 Years in Prison – Regulation Bitcoin News

Kevin Helms
Kevin Helms

17 Mar 2023 9:30 AM

An international operation has taken down Chipmixer, a cryptocurrency mixing service that allegedly laundered crypto worth over $3 billion....

  • Chipmixer, a cryptocurrency mixing service, has been taken down in an international operation involving authorities from the US, Germany, Belgium, Poland, and Switzerland, with Europol's support.
  • The service allegedly laundered more than $3 billion worth of cryptocurrency.
  • The operation resulted in the seizure of four servers, about 1909.4 bitcoins in 55 transactions (approx. EUR 44.2 million), and 7 TB of data.
  • Chipmixer allowed users to make bitcoin deposits which it mixed with other users' bitcoin, making it difficult for law enforcement or regulators to trace the transactions.
  • The service primarily operated as a Tor hidden service to conceal the location of its servers and prevent seizure by law enforcement.
  • Minh Quốc Nguyễn, the creator and operator of the online infrastructure used by Chipmixer, is charged with operating an unlicensed money transmitting business, money laundering, and identity theft.

The article reports on the takedown of a cryptocurrency mixing service that allegedly laundered billions of dollars worth of cryptocurrency. The tone is informative and neutral, with no clear positive or negative sentiment.

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Related Questions

What is Chipmixer and what did it allow users to do?
Which countries were involved in the international operation to take down Chipmixer?
What was seized during the operation?
How did Chipmixer conceal the location of its servers?
Who is Minh Quốc Nguyễn and what charges does he face?

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