September 27, 2024 at 04:42AM
The U.S. government sanctioned cryptocurrency exchanges Cryptex and PM2BTC and unsealed an indictment against a Russian national for money laundering services to cybercriminals. The action, part of Operation Endgame, led to the seizure of €7 million ($7.8 million) worth of cryptocurrency. Rewards were announced for information leading to the arrests of key members involved.
After meticulously reviewing the meeting notes, the key takeaways are as follows:
1. The U.S. government imposed sanctions on two cryptocurrency exchanges, Cryptex and PM2BTC, for their alleged involvement in money laundering activities related to cybercrime. This action was part of a coordinated effort with the Netherlands Police and the Dutch Fiscal Intelligence and Investigation Service (FIOD) under Operation Endgame.
2. Both exchanges had their websites confiscated and cryptocurrency worth €7 million ($7.8 million) seized. The U.S. Treasury highlighted PM2BTC’s involvement in laundering convertible virtual currency (CVC) associated with ransomware and other illicit activities in Russia. It emphasized PM2BTC’s failure to implement effective anti-money laundering (AML) and Know Your Customer (KYC) programs.
3. Cryptex was accused of advertising virtual currency services directly to cybercriminals and receiving over $51.2 million in illicit proceeds from ransomware attacks. It is estimated to have engaged in transactions worth at least $720 million linked to illegal services used by Russia-based ransomware actors and cybercriminals.
4. A 44-year-old Russian national, Sergey Sergeevich Ivanov, has been charged as a professional cyber money launderer and for providing his services to other e-crime groups and drug traffickers, including through Cryptex and PM2BTC.
5. Timur Shakhmametov, 38, has been charged with operating Joker’s Stash, a carding marketplace that offered data from nearly 40 million payment cards annually.
6. The U.S. Department of State has announced rewards of up to $10 million each for information leading to the arrests and/or convictions of Timur Shakhmametov and Sergey Ivanov, as well as an additional $1 million for identifying other key members linked to the mentioned entities.
7. The actions highlight the U.S. government’s continued efforts to collaborate with international partners to disrupt the infrastructure enabling money laundering and transnational cybercrime.
Please let me know if you need further details or specific information from the meeting notes.