The United States government has extradited Denis Mihaqloviv Dubnikov from the Netherlands on suspicion of cryptocurrency money laundering.
Key Takeaways
- The Division of Justice’s Workplace of International Affairs has extradited a 29-300 and sixty five days-oldschool Russian man from the Netherlands on suspicion of laundering stolen digital property in connection with the Ryuk ransomware malicious program.
- Denis Mihaqloviv Dubnikov faces as a lot as 20 years in penal complex if chanced on guilty.
- The U.S. govermment has been stepping up its oversight of the crypto home in newest months in a uncover to clamp down on legal exercise.
The Division of Justice stated that Dubnikov faces as a lot as 20 years in penal complex if chanced on guilty.
Justice Division Extradites Alleged Launderer
The United States government is taking substantial steps to clamp down on legal exercise in the cryptocurrency home.
The Division of Justice posted one other crypto-linked change Wednesday confirming it had extradited an alleged cryptocurrency launderer from the Netherlands.
A 29-300 and sixty five days-oldschool Russian man named Denis Mihaqloviv Dubnikov became summoned to a federal court in Portland, Oregon Wednesday on allegations of laundering ransom funds in connection with the Ryuk ransomware assaults. In step with the clicking unlock, he will be jailed for as a lot as 20 years if convicted.
“After receiving ransom funds, Ryuk actors, Dubnikov and his co-conspirators, and others fascinated with the plot, allegedly engaged in diversified monetary transactions, including global monetary transactions, to disguise the character, source, region, ownership, and sustain watch over of the ransom proceeds,” the unlock infamous. It added that Dubnikov became allegedly guilty for laundering $400,000 in ransomware funds in 2019.
Ryuk is a ransomware application malicious program that emerged in 2018 and has since centered hundreds of victims worldwide. Ryuk veritably encrypts knowledge on infected devices and orders targets to pay a ransom, veritably in Bitcoin, to decrypt the knowledge. The Justice Division estimates that it’s guilty for stealing more than $70 million since its launching.
Ryuk became on the origin suspected to be the made of North Korean pronounce-subsidized cybercriminals but has more just no longer too long ago been attributed to Russian crime syndicates. It preceded Conti, one other Russian ransomware malicious program that saw its creators launder billions of bucks payment of stolen crypto thru blockchains admire Ethereum.
Dubnikov’s case comes because the U.S. government takes an aggressive strategy to clamp down on legal exercise in the digital property enviornment. The Treasury Division’s Workplace of International Resources Retain an eye on sanctioned Twister Money final week, citing its recognition among North Korea’s Lazarus Crew and totally different criminals. The Ethereum mixer joins a blacklist that also entails Blender, though its ban became important in that OFAC sanctioned the good contract code itself in space of gorgeous a checklist of linked addresses.
The Justice Division’s Workplace of International Affairs led Dubnikov’s extradition, and its newly-established Ransomware and Digital Extortion Process Force is also working on the case, along with the FBI.
Dunikov’s five-day trial is slated to launch on October 4.
Disclosure: On the time of writing, the creator of this piece owned ETH and quite a lot of totally different cryptocurrencies.
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