Russian Charged With Laundering Ransomware Proceeds in Crypto Pleads Guilty in US

A Russian nationalist accused of processing cryptocurrency payments from ransomware attacks has pleaded blameworthy to wealth laundering successful the United States. The antheral who was extradited from the Netherlands successful mid-August, past year, volition beryllium sentenced successful April.

Russian Crypto Launderer Pleads Guilty successful US Court, May Get Up to 20 Years successful Prison

An alleged wealth launderer from Russia has pleaded blameworthy to 1 number of conspiracy to perpetrate wealth laundering successful the United States. Denis Dubnikov, present 30, was arrested connected Nov. 2, 2021 successful Amsterdam, handed over by Dutch authorities connected Aug. 16, 2022, and archetypal appeared successful national tribunal the adjacent day.

The Russian and his accomplices person been laundering proceeds of Ryuk ransomware attacks connected individuals and organizations successful the U.S. and different countries betwixt astatine slightest August 2018 and August 2021, according to tribunal documents, quoted by the U.S. Attorney’s Office, District of Oregon. They made assorted fiscal transactions to conceal the root and ownership of the integer money.

“Specifically, successful July 2019, a United States-based institution paid a 250 bitcoin Ryuk ransom aft a ransomware attack. On oregon astir July 11, 2019, successful Moscow, Russia, Dubnikov accepted 35 bitcoin from a co-conspirator successful speech for astir $400,000,” elaborate an announcement published Tuesday.

The cryptocurrency came straight from the ransom paid by the company. Dubnikov converted the bitcoin to tether and sent it to different individual, who yet exchanged it for Chinese yuan. Dubnikov’s co-conspirators laundered much bitcoin and compensated him for his role.

Denis Dubnikov volition beryllium sentenced connected April 11, 2023. The U.S. judicial authorities further noted that conspiracy to perpetrate wealth laundering is punishable by up to 20 years successful national prison, 3 years’ supervised release, and a good of $500,000.

Ryuk is simply a benignant of bundle that encrypts files connected the targeted organization’s computers. First identified successful 2018, the ransomware has been utilized against victims crossed the globe and from assorted sectors, including hospitals and healthcare providers successful the United States. According to a caller report by blockchain forensics steadfast Chainalysis, revenue from ransomware attacks has decreased.

Do you deliberation cases similar Dubnikov’s volition effect successful a further driblet successful ransomware payments? Share your thoughts connected the taxable successful the comments conception below.

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