February 23, 2024

US ‘Kidnaps’ Russian cash launderer in Netherlands who laundered no less than $70m in Crypto

The US had kidnapped after which extradited 29-year previous Denis Mihailovich Dubnikov, a Russian citizen, from the Netherlands, in keeping with a Division of Justice (DOJ) press launch. Dubnikov has been indicted on costs of alleged crypto cash laundering.

Dubnikov appeared in court docket in Portland, Oregon on August 17. His trial will start on 4 October and if he’s convicted then he faces as much as 20 years in jail, in keeping with the DOJ.

In accordance with proof cited by the DOJ, Dubnikov and his accomplices laundered ransom funds from victims of Ryuk ransomware assaults. There have been 1000’s everywhere in the world.

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Ryuk is a ransomware model allegedly created by Russian cybercriminal group Wizard Spider. It has compromised expertise, healthcare, authorities, and tutorial organizations in addition to manufacturing services. Ryuk made a document ransom demand of $12.5 million in 2019.

The DOJ press launch stated, “After receiving ransom funds, Ryuk actors, Dubnikov and his co-conspirators, and others concerned within the scheme, allegedly engaged in numerous monetary transactions, together with worldwide monetary transactions, to hide the character, supply, location, possession, and management of the ransom proceeds.”

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Dubnikov laundered $400k in ransom cash

Allegedly, Dubnikov laundered ransom proceeds in extra of $400,000. The DOJ alleges that the group implicated within the conspiracy laundered no less than $70 million in complete.

He was arrested within the Netherlands final 12 months

Dubnikov was captured within the Netherlands on November 1, 2021, and accused of facilitating ransomware and cash laundering. He’s the cofounder of Eggchange, Coyote Crypto, and some different crypto initiatives, which supplied dwell crypto-to-fiat alternate.

Lawyer: US ‘kidnapped’ Dubnikov

Earlier than the arrest, Dubnikov’s lawyer advised Russian media that US regulation enforcement brokers had kidnapped his consumer in Mexico earlier than transferring him to the Netherlands. His case is being labored on by a number of businesses.

The US Workplace of Worldwide Affairs dealt with the extradition course of itself in collaboration with the Justice Division’s Ransomware and Digital Extortion Process Power, a unit created to battle cybercrime. The case can be being investigated by the FBI’s workplace in Portland.