Authorities take down Cryptomixer, seize $28M in Switzerland

European authorities shut down and seized the assets of Cryptomixer, a cryptocurrency mixing service that allegedly facilitated more than $1.5 billion in money laundering for cybercriminals and other illegal activity, Europol said Monday. 

The weeklong operation, part of “Operation Olympia,” netted the seizure of nearly $28 million in Bitcoin, three servers in Switzerland, the cryptomixer.io domain and more than 12 terabytes of data, officials said. The site currently displays a seizure notice, warning that anyone using or operating cybercriminal services is subject to investigation and prosecution. 

The takedown is part of a broader global law enforcement effort to disrupt, confiscate and obtain additional information on the various services cybercriminals rely upon and the individuals leading these operations. 

Cryptomixer, which was accessible on the clear and dark web, mixed more than $1.5 billion in Bitcoin through its infrastructure since its founding in 2016, according to Europol. Officials described the mixing service as “the platform of choice” for cybercriminals and various crimes, including ransomware, payment card fraud, and drugs and weapons trafficking. 

“Deposited funds from various users were pooled for a long and randomised period before being redistributed to destination addresses, again at random times,” Europol said. “Mixing services such as Cryptomixer offer their clients anonymity and are often used before criminals redirect their laundered assets to cryptocurrency exchanges.”

North Korean-linked Lazarus Group used Cryptomixer and similar services before it shifted to high-volume attacks, according to TRM Labs. Lazarus Group stole $1.46 billion in Ethereum from Bybit in February and laundered $160 million within two days of the attack. 

“North Korea now appears to prioritize speed and automation over traditional anonymity,” researchers said in the wake of the largest cryptocurrency theft on record.

Officials also referenced the 2023 takedown of ChipMixer, the largest mixing service at that time, as an example of law enforcement agencies’ sustained effort to target cryptocurrency mixing services. ChipMixer was allegedly responsible for more than $3 billion in transactions since it began operations in 2017.

The Cryptomixer shutdown drew support from Europol, Eurojust and multiple law enforcement agencies from Germany and Switzerland.