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9mo ago

US Cracks Down on Russian Cybercrime with Sanctions and Indictments

The Department of Justice and Treasury target Russian nationals and cryptocurrency exchanges linked to illicit activities.

The US Justice Department unsealed an indictment charging Russian national Sergey Sergeevich Ivanov with conspiracy to commit bank fraud and money laundering using stolen credit and debit card information.
FILE- This photo shows the U.S. Treasury Department building at dusk in Washington, June 6, 2019.
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Overview

  • Russian nationals Sergey Ivanov and Timur Shakhmametov face charges for operating billion-dollar money laundering services.
  • The US Treasury sanctioned Cryptex and PM2BTC, cryptocurrency exchanges involved in laundering funds for ransomware groups.
  • Ivanov allegedly laundered over $1.15 billion in cryptocurrency through platforms like UAPS, PinPays, and PM2BTC.
  • Shakhmametov ran Joker’s Stash, a major carding website that sold stolen credit card data, generating up to $1 billion in profits.
  • International law enforcement, including Dutch authorities, seized servers and domains linked to the illicit exchanges, recovering over $7 million in cryptocurrencies.