September 27, 2024 at 02:01PM
The U.S. Department of Justice has charged two Russian nationals, Sergey Ivanov and Timur Shakhmametov, for money laundering and cybercrimes, including operating carding markets and cryptocurrency exchanges involving billions of dollars. Authorities also targeted Cryptex and seized servers hosting PM2BTC, leading to rewards for information on the individuals’ whereabouts. Additionally, German authorities seized 47 cryptocurrency exchange platforms for money laundering violations.
Based on the meeting notes, here are the key takeaways:
– The U.S. Department of Justice (DoJ) has announced charges against two Russian nationals, Sergey Ivanov and Timur Shakhmametov, for operating billion-dollar money laundering services for cybercriminals, including ransomware groups.
– Ivanov is accused of laundering over $1.15 billion in cryptocurrency via the UAPS, PinPays, and PM2BTC services, while Shakhmametov allegedly operated one of the largest carding markets, “Joker’s Stash,” making profits of at least $280 million and up to $1 billion.
– Shakhmametov promoted Joker’s Stash on cybercriminal forums and was involved in bank fraud and money laundering in his role at the card shop.
– UAPS and PinPays acted as intermediaries for money transfers and payments and were confirmed to have been involved in transactions with carding websites like Rescator, which sold data from the infamous Target PoS breach in 2013.
– PM2BTC was a cryptocurrency exchange working primarily with Bitcoin, facilitating conversion between crypto and fiat money without KYC mechanisms in place.
– Approximately 32% of all Bitcoin transactions associated with Ivanov’s platforms between July 2013 and August 2024 were traced back to criminal activity.
– Law enforcement authorities seized servers hosting PM2BTC and Cryptex, and confiscated cryptocurrency worth over $7 million during the action. The U.S. Department of State announced rewards for information leading to the whereabouts of Ivanov or Shakhmametov.
– Law enforcement authorities in Germany seized 47 cryptocurrency exchange platforms hosting in the country and operating in violation of KYC regulations, facilitating money laundering for cybercriminals under the operation “Final Exchange,” which resulted in the takedown of notable platforms Xchange.cash, 60cek.org, Bankcomat.com, and Banksman.com.