A blow to online money laundering using cryptocurrencies.

Investigators dismantle cryptomixer.io

Investigators dismantle crypto money laundering platform cryptomixer.io

Authorities announced that the server infrastructure of a so-called Bitcoin mixer has been seized.Investigators from Germany and Switzerland have dealt a blow to online money laundering using cryptocurrencies. Authorities announced that the server infrastructure of a so-called Bitcoin mixer has been seized and the platform successfully shut down. Cryptocurrencies worth approximately €25 million were recovered.

The Frankfurt am Main Public Prosecutor's Office, the Zurich Cantonal Prosecutor's Office, the German Federal Criminal Police Office (BKA), and Europol participated in the investigation. According to the announcement, the raid took place last Wednesday.

“This is a significant step in the international fight against online money laundering through crypto mixers,” said Martina Link, Vice President of the Federal Criminal Police Office (BKA).

The platform had been active since 2016.

The BKA announced that the platform cryptomixer.io, active since 2016, was used to conceal financial flows. Cryptocurrencies could be deposited and withdrawn anonymously. The BKA stated that there is strong suspicion that a large portion of the assets traded there were of criminal origin.

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Prevention is the best defense.