U.S. and German authorities announced Wednesday that they have shuttered ChipMixer, a cryptocurrency service that allegedly laundered more than US$3 billion in crypto since 2017.

ChipMixer has been used to launder more than US$3 billion in illicit transactions by ransomware groups, suspected North Korean hackers, and darknet market users since 2017, said the U.S. Department of Justice (DOJ).

Authorities from Germany and the U.S. have seized up to US$46.3 million in crypto from ChipMixer, according to the European Union Agency for Law Enforcement Cooperation (Europol).