German Police Confiscate Massive Bitcoin Stash Worth Over $46Mln

German law enforcement officers have stopped the activities of the largest money laundering service on the darknet and confiscated bitcoins worth a record 44 million euros ($46.5 million), the German Federal Criminal Police Office said on Wednesday

MOSCOW (UrduPoint News / Sputnik - 15th March, 2023) German law enforcement officers have stopped the activities of the largest money laundering service on the darknet and confiscated bitcoins worth a record 44 million Euros ($46.5 million), the German Federal Criminal Police Office said on Wednesday.

"The Frankfurt Prosecutor General's Office, the Central Office for Combating Cybercrime (ZIT), and the Federal Criminal Police Office on Wednesday confiscated the server infrastructure of the world's largest cryptomixer, ChipMixer, located in Germany," the police said in a statement, adding that it also confiscated 44 million euros in bitcoins and about seven terabytes of data.

The statement noted that this was the largest seizure of cryptocurrency ever made by the Federal Criminal Police Office.

ChipMixer is a service that has existed since mid-2017 and is designed, among other things, to hide the criminal origin of funds. The service helped to launder cryptoassets worth about 2.8 billion euros, the statement read.