The U.S. The Justice Department charged Minh Quốc Nguyễn for running an illegal crypto mixer in Vietnam called ChipMixer.
However, the charges include money laundering, unlicensed money-transmitting business, and identity theft, which may lead to 40 years of imprisonment.
Therefore, German law enforcement closed down ChipMixer in a Europol operation, revealing Nguyễn as its creator and operator.
Additionally, Nguyễn allegedly promoted ChipMixer online, advised customers to bypass anti-money laundering measures, and served American clients without complying with FinCEN regulations.
The Justice Department has filed charges against him, which include identity theft, running an unlicensed money-transmitting business, and money laundering.
Moreover, the Justice Department’s global alliances help disrupt cross-border cybercrime that threatens cybersecurity worldwide.
According to blockchain analytics firm Elliptic, ChipMixer laundered over $917 million in Bitcoin through money laundering activities, including ransomware attacks, stolen funds, and the darknet, between August 2017 and March 2023.
Elliptic Analysis Reveals Millions Laundered Through ChipMixer
ChipMixer laundered $844M+ in Bitcoin, incl. $666M+ from thefts per Elliptic. Using the mixer, users laundered funds from Axie Infinity, and Harmony Horizon exploits and allegedly bought malware with Bitcoin via The Russian General Staff Main Intelligence Directorate.
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Furthermore, the charges against Nguyễn demonstrate the U.S. government’s commitment to combating illegal activities in the crypto industry, especially money laundering.
Moreover, This case warns other crypto operators that they will be held accountable for facilitating criminal activity through their platforms.
The author’s views are for reference only and shall not constitute investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing