Is chipmixer a scam?

U.S. prosecutors allege ChipMixer has laundered more than $3 billion in cryptocurrency since 2017; German authorities seize over $46 million in crypto from platform ChipMixer has been used to launder illicit funds gained from ransomware attacks, crypto heists and other types of fraud since 2017, the U.S. Justice Department has alleged.

Who uses chipmixer?

Amongst its users were North Korean hackers and Russian spies, according to the Department of Justice. ChipMixer charged a small fee to take in clients’ cryptocurrency and spread it across different accounts, in order to complicate law enforcement tracking of criminal proceeds, police said.

How does chipmixer work?

Crypto mixing services like ChipMixer make it more difficult for third parties, such as law enforcement, to trace crypto transactions, as they funnel different payments into a single pool of crypto before splitting up each amount and sending them to designated recipients.