This week, the U.S. Department of Justice (DOJ) announced the extradition of suspected cryptocurrency money launderer Denis Mihaqlovic Dubnikov from the Netherlands. The DOJ alleges that Dubnikov and his co-conspirators laundered $70 million in ransom payments extorted from victims of Ryuk ransomware attacks throughout the U.S. and abroad. According to the DOJ, Dubnikov is alleged to have laundered more than $400,000 in ransom payments from Ryuk attacks in July 2019 alone.
In related news, Dutch authorities recently announced the arrest of a tech developer allegedly involved with Tornado Cash, the cryptocurrency mixing service that was recently sanctioned bv the U.S. Department of the Treasury's Office of Foreign Assets Control. In a statement regarding the arrest, Dutch authorities allege that the man is "suspected of involvement in concealing criminal financial flows and facilitating money laundering" through Tornado Cash.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
