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Nine cryptocurrency exchange websites that helped fraudsters and cybercriminals, such as ransomware operators, launder money have been taken down by the FBI and Ukrainian authorities.
Today, when you access any of these domains, the seizure banner below appears with a message that alternates between Russian and English.
In order to hide the money trail and aid cybercriminals in repurchasing their stolen goods without being discovered by law enforcement, the confiscated sites allowed users to change cryptocurrencies anonymously into harder-to-trace coinage.
These websites, which supported several cybercriminal networks, frequently offered customers live assistance and guidance in both Russian and English.
The United States, Ukraine, and numerous European nations‘ servers for the website were also taken during the law enforcement operation.
To find cybercriminals who utilized the sites to launder money, law enforcement may go through the infrastructure that has been seized, which could result in more arrests down the road.
Crypto laundering networks need to be shut down so that hackers may no longer operate their extortion schemes unchallenged and use the money they obtained in the real world.
Law enforcement agencies also send a strong message to the proprietors of these platforms by taking down these sites, letting them know that illegal or shady behaviour won’t be tolerated while also hindering the financial operations of ransomware groups.