Security News > 2023 > March > ChipMixer platform seized for laundering ransomware payments, drug sales
An international law enforcement operation has seized the cryptocurrency mixing service 'ChipMixer' which is said to be used by hackers, ransomware gangs, and scammers to launder their proceeds.
ChipMixer has been one of the largest cryptocurrency mixing platforms operating on the dark web since 2017, allowing users to convert their money into untraceable "Chips," which are then cashed out on "Clean" cryptocurrency addresses that can be converted to FIAT money.
Cryptocurrency mixing platforms, otherwise known as "Tumblers," receive digital assets from users and add them to a massive pool of cryptocurrency containing other people's coins.
The authorities found further ties to illegal activity to ChipMixer service that arose from examining seized infrastructure from the dark web market Hydra, which the German police confiscated in April 2022.
Ransomware groups confirmed to have used ChipMixer to launder their ransoms include LockBit, Zeppelin, SunCrypt, Mamba, and Dharma.
There are indications that ChipMixer aided in laundering the assets stolen from a large cryptocurrency exchange following its bankruptcy last year.