Authorities take down Cryptomixer, seize $28M in Switzerland

European authorities have dismantled Cryptomixer, a cryptocurrency mixing service accused of laundering over $1.5 billion in Bitcoin since its launch in 2016, seizing nearly $28 million in the process. The operation, part of a coordinated law enforcement initiative called “Operation Olympia,” also confiscated the platform’s domain, three servers in Switzerland, and more than 12 terabytes of data, Europol announced Monday.

Cryptomixer, accessible on both the clear and dark web, allowed cybercriminals to obscure the origin of their Bitcoin by pooling funds from multiple users and redistributing them randomly over time. According to Europol, the service became a preferred tool for criminals engaged in ransomware attacks, payment card fraud, and illicit trade in drugs and weapons.

A seizure notice now appears on Cryptomixer’s website, warning users that involvement in criminal activities via such platforms is subject to investigation and prosecution. Authorities stressed that the takedown is part of a broader, ongoing effort to disrupt cybercrime infrastructure and trace the individuals behind these operations.

Cybersecurity researchers noted that even high-profile actors, such as the North Korean-linked Lazarus Group, relied on services like Cryptomixer to launder stolen cryptocurrency before adopting faster, high-volume attack methods. Lazarus Group, for instance, stole $1.46 billion in Ethereum from Bybit in February and reportedly laundered $160 million within two days.

Law enforcement officials pointed to the 2023 seizure of ChipMixer, previously the largest crypto mixing service, as evidence of sustained global efforts to combat illicit cryptocurrency operations. ChipMixer had reportedly facilitated over $3 billion in transactions since 2017.

The Cryptomixer shutdown received support from Europol, Eurojust, and law enforcement agencies in Germany and Switzerland, reflecting growing international collaboration in tackling financial crimes in the digital asset space. Authorities continue to analyze the seized data to identify additional suspects and networks linked to cryptocurrency money laundering.