Global Effort Disrupts Russia Linked Network Using Crypto to Evade Sanctions, U.S. Charges Two Russians

As a seasoned analyst with years of experience tracking global financial crimes, I can confidently say that today’s announcement by U.S. authorities is a significant blow to the world of cybercrime and money laundering. The charges against Sergey Ivanov and Timur Shakhmametov, two Russian nationals, for their roles in operating these illicit cryptocurrency networks, is a testament to the relentless pursuit of justice by law enforcement agencies worldwide.

American officials declared on Thursday that Russian citizens Sergey Ivanov and Timur Shakhmametov are facing charges due to their role in running illicit money-laundering operations, which primarily served cybercriminals who used cryptocurrencies.

The U.S. State Department has publicized a reward of $10 million per individual for any intel that results in the apprehension of both Shakhmametov and Ivanov.

President Joe Biden’s statement on US support for Ukraine indicates that actions have been taken today by the Department of Justice, the Department of the Treasury, and the U.S. Secret Service to dismantle a global cryptocurrency system as part of an effort to prevent Russian sanctions evasion and money laundering. This action was carried out in collaboration with international partners.

For more than a decade, Ivanov has been involved in transactions totaling over $1.15 billion. However, he was recently indicted on two charges: one for conspiring to commit bank fraud by offering payment processing services to the illicit carding site Rescator, and another for conspiring to launder money with the carding website Joker’s Stash. The illegal practice of using stolen credit and debit card information for fraudulent purposes is referred to as “carding.

Shakhmametov, who goes by “JokerStash” and “Vega” online, was accused of similar crimes as Ivanov and an additional charge of conspiring to commit fraud involving access devices. This allegation stems from his operation of the website Joker’s Stash, a platform that reportedly sold data from approximately 40 million payment cards annually.

Today, two Russian individuals were accused of amassing large sums of money through widespread money laundering activities. As reported by U.S. Deputy Attorney General Lisa Monaco, these individuals are believed to have supported a global network of cybercriminals. Specifically, it’s alleged that Ivanov played a role in aiding darknet drug traffickers and ransomware attackers.

A recent U.S. Secret Service operation led to the confiscation of two web domains linked to a cryptocurrency laundering platform known as “Cryptex.net.” This platform facilitated approximately 37,500 transactions worth an astounding $1.4 billion dollars.