Ukraine arrests gang who ran 20 crypto-exchanges and laundered money for ransomware gangs


Law enforcement in Ukraine has announced today the arrest of a cybercrime gang who ran 20 cryptocurrency exchanges where they laundered more than $42 million in funds for criminal groups.

The group, which authorities said had three members, has been operating from Ukraine’s Poltava region since 2018. According to Ukrainian officials, the group has advertised its services on underground criminal forums, where they offered to convert cryptocurrency from criminal activities into fiat (real-world) currency for other groups, helping criminals launder their ill-gotten profits.

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Source: ZDNet