A network linked to Russian cybercrime and virtual currency exchanges has faced sanctions as part of a government-wide effort to combat cybercrime, ahead of US President Joe Biden’s meeting with Ukrainian President Zelensky.
The US Treasury sanctioned Sergey Ivanov, an alleged Russian hacker, and Cryptex, a St Vincent and the Grenadines-registered virtual currency exchange operating in Russia. Virtual currency exchanges allow people and businesses to trade cryptocurrencies with other assets such as traditional dollars or other digital currencies.
Treasury alleges that Ivanov laundered hundreds of millions of dollars worth of virtual currency for cybercriminals and darknet marketplace vendors over the past 20 years, including Timur Shakhmametov, who allegedly created an online marketplace for stolen credit card data and compromised identities called Joker’s Stash. The Treasury says Ivanov laundered the proceeds from Joker’s Stash.
The State Department has offered a $10 million reward for information leading to the arrest and possible conviction of the two men, while the US Attorney’s Office in Virginia has filed an indictment against them.
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