Tag Archives: russia

U.S. authorities have charged Russian citizens Sergey Sergeevich Ivanov and Timur Shakhmametov for allegedly operating a cryptocurrency money laundering service tied to Russian cybercrime. The U.S. Department of State has issued a $10 million bounty for information leading to the arrest or conviction of each. International Crackdown on Russian Cybercrime The United States Treasury, in coordination with international partners, announced it had taken action to disrupt the...

Russian-speaking threat actors who come from former Soviet Union are the primary drivers of various types of crypto-related cybercrime, including ransomware, illegal crypto exchanges, and darknet markets, according to the latest report by TRM Labs. In fact, ransomware groups that speak Russian were also found to be responsible for at least 69% of all ransomware earnings in 2023, totaling over $500 million. Russian-Speaking Threat Actors Dominate In its latest report,...

USDT is one of the most widely adopted stablecoins, which are blockchain-based currencies that are tied - or tethered - to fiat currencies. Tether's mission is to offer a safer digital asset that isn't affected by market volatility in the same way that Bitcoin is. In der sich ständig weiterentwickelnden Welt der Kryptowährungen haben sich Stablecoins als unverzichtbare Stütze erwiesen. Sie bieten Stabilität inmitten der Volatilität und ermöglichen es Anlegern, die Vorteile der...

Wally Adeyemo, Undersecretary of the U.S. Treasury, released an official statement saying Russia is increasingly resorting to alternative payment methods, such as the stablecoin Tether (USDT), to evade sanctions and sustain its military operations. The hearing, titled “Countering Illicit Finance, Terrorism, and Sanctions Evasion,” marks the committee’s second discussion on the topic within the last six months. Russia Employs Tether to Evade Sanctions In his testimony, Ademayo...

The Office of Foreign Assets Control (OFAC) has escalated its enforcement efforts by tightening its grip on individuals and entities operating within the financial services and technology sectors in Russia, particularly those involved in virtual assets, enabling evasion of US sanctions. The enforcement agency claimed that these individuals and entities played a crucial role in facilitating transactions or providing services aimed at aiding other designated entities in...

CommEX, a crypto exchange that previously took over Binance’s operations in Russia after it decided to exit the country, has revealed its intention to cease operations in the country. Binance had initially announced its departure from Russia in September 2023, stating that the process would take approximately one year to complete. CommEX Announces Gradual Wind-Down of Operations In a post on X, CommEX Russia mentioned that the exchange will wind down operations gradually...

Russia, a member of the BRICS alliance, announced the development of a new blockchain-based payment system to revolutionize trade settlements. The system is set to become an independent mechanism for conducting transactions among BRICS member nations. Blockchain-Based Payment System Plans The BRICS alliance, consisting of Brazil, Russia, India, China, and South Africa, plans to collaborate on developing a payment system utilizing blockchain technology and digital innovations....

Cryptocurrency exchange Binance has announced the suspension of Russian ruble (RUB) deposits starting from November 15, 2023. This decision by the company comes following its recent announcement regarding the sale of its entire Russian business to CommEX. Binance to Cease Russian Ruble Deposits In a November 10 announcement, Binance said it would be stopping Russian RUB deposits as of 00:00 on November 15, 2023 (UTC), marking a crucial step in its decision to exit the Russian...

Binance announced the sale of its Russian entity to a relatively unknown company called CommEX, the transaction of which raised several questions and concerns within the crypto community, primarily due to the limited information available about the company and its ownership. Moreover, CommEX was officially launched on Tuesday. To address these concerns and provide clarity, Binance CEO Changpeng ‘CZ’ Zhao took to X (formerly Twitter) to provide insights into the deal and its...

In a significant step towards tackling cybercrime and bolstering global security efforts, the IRS Criminal Investigation (CI) recently collaborated with international counterparts to provide advanced training to Ukrainian law enforcement officers. The focus was on the intricacies of cryptocurrency and blockchain tracing. Strengthening Global Efforts Against Crypto-Enabled Crime Expanding on the previous successful cyber training given to Ukrainian law enforcement in May, the...