November 6, 2023 at 01:12AM
The U.S. Department of the Treasury has imposed sanctions against Ekaterina Zhdanova, a Russian woman involved in laundering virtual currency for Russian elites and cybercriminal groups, including the Ryuk ransomware group. Zhdanova facilitated cross-border transactions to help Russian individuals access Western financial markets and evade international sanctions. She utilized entities lacking Anti-Money Laundering controls, such as the OFAC-designated Russian cryptocurrency exchange Garantex. Zhdanova is also accused of laundering over $2.3 million on behalf of a Ryuk ransomware affiliate. This comes as ransomware attacks continue to rise, with a 153% increase in victims reported in September 2023 compared to the previous year.
Summary:
The U.S. Department of the Treasury has imposed sanctions on Ekaterina Zhdanova, a Russian woman accused of participating in money laundering activities involving virtual currency. Zhdanova allegedly facilitated large cross-border transactions to help Russian individuals bypass international sanctions and gain access to Western financial markets. She is said to have used entities lacking anti-money laundering controls, such as the Russian cryptocurrency exchange Garantex. Garantex was previously sanctioned by the U.S. in April 2022, along with the takedown of the dark web marketplace Hydra. Zhdanova has also been accused of offering services to individuals associated with the Russian Ryuk ransomware group, laundering over $2.3 million in suspected victim payments. The rise in ransomware attacks has seen a record 514 victims reported in September 2023, with new threat groups like LostTrust and RansomedVC emerging. Established threat actors continue to adapt and refine their tactics, while hacktivist groups like GhostSec have started engaging in ransomware attacks for financial gain. In response, an alliance of 50 countries, known as the International Counter Ransomware Initiative, has pledged to never pay ransom demands to discourage financially motivated actors.