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Europol has shut down Cryptomixer, a cryptocurrency laundering service linked to the laundering of 1.3 billion euros since 2016. The site was used by cybercriminals to obscure the origins of their funds, making it harder for authorities to trace illegal transactions.
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Europol has dismantled Cryptomixer, a cryptocurrency laundering service linked to the laundering of 1.3 billion euros (approximately $1.5 billion) since its launch in 2016. The agency coordinated with multiple law enforcement entities to seize $25 million euros (about $29 million) in Bitcoin, three servers, 12 terabytes of data, and the domain cryptomixer.io, which now displays a law enforcement seizure notice. Cryptomixer was notorious among cybercriminals for its ability to obscure the origins of funds, making it a preferred choice for laundering proceeds from drug trafficking, ransomware attacks, and other illegal activities.
The service operated by pooling deposited funds from users for extended and randomized periods before redistributing them to different addresses. This process complicated tracking efforts on public blockchains like Bitcoin and Ethereum. Despite the transparency of these digital currencies, mixing services like Cryptomixer effectively concealed the source of the funds. Europol highlighted that the site was instrumental in facilitating transactions for ransomware groups and dark web markets.
This shutdown is part of a broader effort by authorities to combat cryptocurrency-related crime. Other similar services, including Tornado Cash and ChipMixer, have also faced shutdowns or sanctions in recent years. The ongoing crackdown reflects the challenges law enforcement faces in addressing the misuse of cryptocurrencies while navigating the complexities of blockchain technology.
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