In a major crackdown on cybercrime, US authorities on Thursday charged two Russian citizens, Sergey Ivanov and Timur Shakhmametov, with operating a global money laundering and sanctions evasion network using cryptocurrencies.
US Charges Two Russian Nationals in Billion-Dollar Cryptocurrency Laundering Scheme, Seizes Illegal Crypto Exchanges
The Justice Department also announced the seizure of domain names associated with three illegal crypto exchanges linked to Russian cybercriminals, with a $10 million bounty on each for information leading to their arrest.
The coordinated operation involved the Justice Department, State Department, Treasury Department and international law enforcement agencies, and efforts focused on dismantling Russian money laundering networks.
Assistant Attorney General Lisa Monaco emphasized the importance of this action, which she described as “dismantling malicious cyber actors and their criminal ecosystem.”
He added that Ivanov played a key role in facilitating darknet drug traffickers and ransomware groups through illicit crypto services.
Ivanov, known online as “Taleon,” was charged with conspiracy to commit bank fraud and money laundering, according to an unsealed indictment in the Eastern District of Virginia.
Ivanov allegedly assisted cybercriminals in money laundering operations on platforms such as Rescator and Joker's Stash, which sold stolen credit card data.
Ivanov reportedly laundered approximately $1.15 billion in cryptocurrency transactions through services such as UAPS, PinPays, and PM2BTC, with 32% of these funds originating from criminal activity, including proceeds from ransomware and darknet drug markets.
Shakhmametov, who operated under aliases including JokerStash and Vega, is also accused of operating Joker's Stash, one of the largest carding websites that facilitated the sale of data from more than 40 million stolen payment cards a year.
Profits from the site are estimated to be between $280 million and $1 billion.
*This is not investment advice.