U.S. Cracks Down on Russian Cybercriminals Behind Illegal Crypto Exchanges
The U.S. Department of Justice, in collaboration with various federal and international law enforcement agencies, has filed charges against two Russian individuals for a series of cybercrimes, including operating unauthorized cryptocurrency exchanges.
According to the DOJ’s recent announcement, Sergey Ivanov and Timur Shakhmametov face multiple charges related to facilitating transactions involving stolen credit and debit cards, as well as laundering illicit funds through cryptocurrencies. Ivanov is accused of founding and managing several Russian payment and exchange platforms—UAPS, PinPays, and PM2BTC—providing money transfer and laundering services to criminals.
Investigations revealed that between July 12, 2013, and August 10, cryptocurrency transactions linked to Ivanov’s alleged operations totaled around $1.15 billion. Approximately 32% of the Bitcoin traced to these services was linked to criminal activities. This includes over $158 million attributed to fraud, more than $8.8 million related to ransomware payments, and about $4.7 million from darknet drug sales.
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Additionally, the U.S. Secret Service has received authorization to seize domains linked to the UAPS and PM2BTC sites. They have also dismantled Cryptex, a Russian crypto laundering service that promoted its offerings to criminals.
Nicole M. Argentieri, Principal Deputy Assistant Attorney General, emphasized that the actions taken, including the seizure of Cryptex’s domains and assets, send a clear message: there are no safe havens for cybercriminals in the online world. The Justice Department will persist in its efforts to disrupt platforms that facilitate cybercrime.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
