Tuesday, March 28, 2023

Creating liberating content

Canada’s ‘crypto king’ kidnapped...

A self-proclaimed "crypto king" was allegedly kidnapped and tortured for days by attackers...

Alzheimer’s disease indicators may...

Researchers are investigating how the eye can aid in the early detection of...

Mississippi young mother’s body...

Mississippi investigators have identified the body found wrapped in a blanket as that...

Washington shoplifter was convicted...

Washington County, Oregon prosecutors confirmed that a shoplifter was sentenced for biting off...
HomeBusiness'Black Web Cryptocurrency'...

‘Black Web Cryptocurrency’ is being taken down by German and US authorities

Authorities from Germany and the US shut down a cryptocurrency mixer today and seized a lot of Bitcoin in the process.

The mixer was allegedly used by criminals on the dark web to launder money.

With assistance from Belgian, Swiss, Polish, and US federal criminal enforcement, Europol said it disassembled the ChipMixer platform’s infrastructure, which it referred to as “one of the greatest cryptocurrency laundromats” on the dark web, and confiscated $42.2 million worth of Bitcoin.

What Is Cryptocurrency Coin Mixers?

Coin mixers gained notoriety last year when the US Treasury Department imposed sanctions on the Tornado Cash platform after alleging that it was being used by North Korean state-sponsored hackers.

The decision to target the software, which enabled anonymous Ethereum sending and receiving, infuriated the cryptocurrency community and some US legislators who argued that everyone has a right to privacy.

With a coin mixer program, users can combine several transactions to conceal the source and destination of cryptocurrency movements.

A blockchain data analyst revealed evidence that ChipMixer had been utilized by hackers who targeted the insolvent cryptocurrency exchange FTX on Twitter back in November, suggesting that it may have helped one of the biggest crypto breaches of 2022.

Once the unsuccessful cryptocurrency corporation filed for bankruptcy, hackers targeted it and stole $446 million in tokens from it.

Read more: Robots could be battling for the British army soon

Attractive To Cyber Criminals 

Authorities from Germany and the US shut down a cryptocurrency mixer today and seized a lot of Bitcoin in the process.

Apparently unlicensed, ChipMixer was desirable for hackers wanting to launder illicit revenues from criminal activities like drug trafficking, weapons trafficking, ransomware attacks, and credit card fraud, according to authorities.

The decision to target the software, which allowed users to transmit and receive Ethereum anonymously, infuriated the cryptocurrency industry as well as several American legislators who argued that individuals have a right to privacy.

Alexey Pertsev, the primary developer of Tornado Cash, was also detained by Dutch authorities.

But earlier this month, a preview of an update to the software, called Privacy Pools, which its creators say is sufficiently secure to avoid being blacklisted by authorities while still providing some level of privacy for cryptocurrency users, was made available.

Read more: Apple starts selling refurbished iPhone 13 on its website

Get notified whenever we post something new!


Create a website from scratch

Just drag and drop elements in a page to get started with Newspaper Theme.

Continue reading

How to get more Social Security benefits without working longer?

Despite reports that the program is on the point of insolvency, you can generally rely on Social Security benefits to see you through your retirement. This does not imply that you should rely solely on Social Security in retirement. This...

Crime surge in New Orleans: Residents doesn’t feel safe walking around at night

Women have begun to feel uneasy about leaving their houses alone at night in New Orleans as violent crime has increased. Over the past few years, violent crime has substantially increased in New Orleans. The city briefly held the label...

Eclipse glasses can cause blindness, especially this total solar eclipse, expert warns

Even with eclipse glasses, experts advise avoiding directly viewing the forthcoming total solar eclipse in Western Australia to avoid lasting eye injury or blindness. Up to 50,000 people are anticipated to arrive in the state's northwest on April 20 to...

Enjoy exclusive access to all of our content

Get an online subscription and you can unlock any article you come across.