Police take down ChipMixer service tied to stolen crypto from FTX, Axie Infinity hacks

The FBI, Europol and other international authorities have taken down cryptocurrency mixing service ChipMixer, which has been linked to hacks at FTX and Axie Infinity. The authorities seized $46m worth of crypto alongside the service’s GitHub account and domains. Mixing services such as ChipMixer pool multiple cryptocurrencies in order to make it difficult for third parties, particularly law enforcement officials, to trace individual transactions. ChipMixer, which had laundered over $3bn worth of cryptocurrency between 2017 and the present day, was particularly problematic for law enforcement as it did not collect identifying information from its users. A US attorney in Pennsylvania argued the service undermined the public’s confidence in cryptocurrencies and blockchain, as ChipMixer was “designed to conceal the sources and destinations of staggering amounts of criminal proceeds”.

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