"Since 2016, Europol said, Cryptomixer facilitated the laundering of 1.3 billion euros ($1.5 billion) in bitcoin. Hackers and other criminals use laundering services such as Cryptomixer to obfuscate and hide the provenance of their cryptocurrency. By design, cryptocurrencies such as Bitcoin and Ethereum are built on public blockchains that allow law enforcement, as well as blockchain intelligence firms such as Chainalysis and Elliptic, to follow the money over time."
"According to Europol, the site "facilitated the obfuscation of criminal funds for ransomware groups, underground economy forums and dark web markets," and claimed its software "blocked the traceability of funds on the blockchain." "Deposited funds from various users were pooled for a long and randomised period before being redistributed to destination addresses, again at random times. As many digital currencies provide a public ledger of all transactions, mixing services make it difficult to trace specific coins, thus concealing the origin of cryptocurrency," Europol said."
A coalition of law enforcement agencies coordinated by Europol shut down the cryptocurrency laundering service Cryptomixer. Europol stated that Cryptomixer facilitated the laundering of 1.3 billion euros in bitcoin since 2016 and labeled it a platform of choice for criminals involved in drug trafficking, weapons trafficking, ransomware, and payment card fraud. Authorities seized 25 million euros in bitcoin, three servers, 12 terabytes of data, and the domain cryptomixer.io. Europol described mixing techniques that pooled and randomized funds over long, random periods to conceal coin origins. Criminals used Cryptomixer to anonymize funds before moving them to legitimate exchanges.
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