– Alleged crypto money laundering scheme has taken a hit.
– U.S. Justice Department managed to extradite a Russian national that allegedly laundered as much as $70 million.
– The suspect, Denis Mihaqlovic Dubnikov (29), will face charges in the District of Oregon, Portland.
– If Dubnikov is found guilty, he could face up to 20 years in prison.
– The U.S. Justice Department claims that Dubnikov and his collaborators allegedly used a malware called Ryuk.
– Ryuk can target storage drives contained within or physically connected to a computer, including those accessible remotely via a network connection.
– The crypto industry has been severely impacted by bad actors infiltrating, sabotaging, and stealing from everyday users.
– Since January this year, the crypto industry has seen some of the biggest hacks in its history.
– The majority of projects affected are based on the decentralized finance (DeFi) sector, in particular, protocols that enable cross-chain interactions or bridges.