Preheat the oven to 350 degrees. Line 2 muffin tins with 24 cupcake liners. Set aside.

In a large bowl combine the cake mix, milk, oil, and eggs. Mix well for 2 minutes or until well combined.

Fold in the M&M's® White Peppermint and crushed peppermints.

Pour the batter into the prepared muffin tins, filled 2/3 of the way full.

Bake for 20-23 minutes or until a toothpick inserted into the center comes out clean. Remove and cool on wire racks.

To make the frosting place the butter in a large bowl and beat with a hand mixer until smooth. Add in the hot chocolate and beat until smooth.

Add the powdered sugar, 1/2 cup at a time, until desired consistency is reached. Pipe the frosting onto the cooled cupcakes.

Decorate each cupcake using M&M's® Hot Chocolate. Then sprinkle the tops of the cupcakes with powdered sugar.