In a joint operation by German and Swiss authorities, Europol, and Eurojust, a cryptocurrency platform was dismantled for allegedly operating with money derived from drug trafficking, money laundering, digital fraud, and drug or arms trafficking.

According to information released Monday by Eurojust and Europol, “more than €25 million ($29 million) in cryptocurrencies were seized in the operation, and three servers belonging to the illegal cryptocurrency mixing service Cryptomixer were dismantled. The service is no longer accessible.”

The servers were located in Switzerland, and many of the website’s domains were based in Germany. “Authorities in both countries collaborated with European agencies in an operation that took place between November 24 and 28.”

The website operated on the dark web and facilitated cryptocurrency laundering by “accumulating user deposits over a long and random period and then redistributing those funds to their destination addresses, also at random times.”

As is known, this procedure makes it impossible to track specific cryptocurrencies and conceals their origin. Once the funds are received, they are laundered, and cybercriminals can exchange them for other digital assets or cash.

M.Pino

Source: bancaynegocios

(Reference image source: Julio Lopez on Unsplash)

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La entrada Cryptocurrency platform suspected of money laundering dismantled in Europe apareció primero en Bitfinance.