On Thursday, the U.S. government announced broad measures against two Russian individuals for their alleged involvement in running several payment and exchange platforms that are utilised by criminals and helping to finance various forms of cybercrime.
The U.S. Department of Justice claimed in a statement that Timur Shakhmametov, also known as “JokerStash” and “Vega,” and Sergey Ivanov, also known online as “Taleon,” had assisted in money laundering related to ransomware and darknet drug trafficking.
According to the agency, Ivanov founded and maintained the Russian money exchange firms PM2BTC, PinPays, and UAPS, which together enabled tens of millions of dollars’ worth of financial transactions connected to ransomware, fraud, and darknet drug markets.
One count of conspiring to commit money laundering and one count of conspiring to commit bank fraud were brought against Ivanov. The Office of Foreign Assets Control of the U.S. Treasury Department also imposed sanctions on him.
According to the DOJ, Shakhmametov ran the Joker’s Stash carding website, which sold data from about 40 million payment cards a year, or hundreds of millions of payment cards in total. It became “one of the largest known carding markets in history,” according to the DOJ, with profits estimated to be between $280 million and more than $1 billion.
According to the DOJ, Shakhmametov was charged with one count each of conspiring to commit, aid and abet, and commission bank fraud, access device fraud, and money laundering conspiracy.
The DOJ noted that the U.S. Secret Service was granted court authorisation to confiscate domains linked to PM2BTC and UAPS websites.
Separately, the U.S. State Department declared on Thursday that information leading to the arrests of Ivanov and Shakhmametov may earn prizes of up to $10 million apiece. Information about other leaders of Joker’s Stash, UAPS, PM2BTC, and PinPays might earn rewards of up to $1 million each.
According to the DOJ, the U.S. Secret Service also took control of two domains connected to the cryptocurrency exchange Cryptex.net, which allowed customers to create accounts without having to comply with the usual know-your-customer procedures. According to the CIA, Cryptex has been connected to over 37,500 transactions utilising bitcoin addresses, of which roughly 31% ($441 million) came from addresses associated with illegal activity.
The DOJ said that Cryptex was also sanctioned in the United States, and Dutch officials had taken servers connected to both PM2BTC and Cryptex.
Do Follow: CIO News LinkedIn Account | CIO News Facebook | CIO News Youtube | CIO News Twitter
About us:
CIO News is the premier platform dedicated to delivering the latest news, updates, and insights from the CIO industry. As a trusted source in the technology and IT sector, we provide a comprehensive resource for executives and professionals seeking to stay informed and ahead of the curve. With a focus on cutting-edge developments and trends, CIO News serves as your go-to destination for staying abreast of the rapidly evolving landscape of technology and IT. Founded in June 2020, CIO News has rapidly evolved with ambitious growth plans to expand globally, targeting markets in the Middle East & Africa, ASEAN, USA, and the UK.
CIO News is a proprietary of Mercadeo Multiventures Pvt Ltd.
