After unmasking Do Kwon from LUNA, FatMan now has a new theory, that the US government would be behind a famous Bitcoin mixer, the ChipMixer, a tool used to increase the anonymity of transactions.
As an argument, he points out that the US sanctioned the Tornado Cash this year, but nothing has been done with the ChipMixer so far, despite its size. Going further, he also points out that there is a big difference between the two in terms of privacy.
“I suspect that happened because they felt highly threatened by the arrival of true anonymity provided by Tornado Cash”, wrote FatMan. “On the other hand, although ChipMixer provides external anonymity, there is a big difference. The ChipMixer operator has full access to all transactions — deanonymized!”
Following, note that ChipMixer’s financial model does not generate profits for its creators. That is, with high marketing expenses and without charging fees — surviving only on donations — the service would depend on a person willing to spend money.
“10 Millions of dollars is a lot of money for most, but for the CIA or the NSA, it’s a rounding error.”
Furthermore, such a person would be risking years in jail as he would be violating anti-money laundering laws. Therefore, it would be hard to imagine that anyone would be offering this for free.
“ChipMixer has been used by several high profile criminals , like the Ronin hackers (from North Korea!) and the Binance hackers. Some were even identified and caught after use[do ChipMixer], like the Twitter hackers.”
“This is a covert operation so there will be no open admission or likely link, but based on the above reasoning[…] it is clear to me that ChipMixer is a trap of a big world government , probably the US.”
Finally, it also highlights that the US has some similar covert operations, such as interceptions of phone calls that remained secret for years until the public learned about them. In other words, they could be doing the same now.
Followers disagree that the US would be involved
Although FatMan points out that the CIA itself has claimed to be extremely involved with cryptocurrencies, some of its followers disagreed with its theory.
One of them points out that criminal organizations lose a significant proportion of their funds during laundering. Therefore, such a mixer could be being operated by hackers, for example, with operating and marketing costs being cheaper than using another platform.
“A few million dollars to promote and run the mixer is a drop in a bucket if it means more activity and more effective obfuscation.”
Finally, it’s hard to find solid links other than speculation. In any case, the FBI has already posed as a hitman to arrest a woman who was trying to pay for her husband’s death using cryptocurrencies.
Therefore, nothing prevents the government has its secret tools, like mixers, to solve cases involving theft of billions of dollars in bitcoin.