"Russian Ransomware Money Launderer Pleads Guilty to Funneling Ryuk Payments"

A Russian cryptocurrency money launderer who was extradited to the U.S. last year has recently pleaded guilty to attempting to conceal at least $400,000 in ransoms paid to criminal hackers.  The Department of Justice (DoJ) stated that Denis Mihaqlovic Dubnikov received the illicit funds, which resulted from Ryuk ransomware attacks on unnamed U.S. individuals and organizations, in exchange for bitcoin from criminal hackers.  He was extradited to the U.S. in August 2022 and pleaded guilty Monday to one charge of conspiracy to commit money laundering.  One of the most common types of ransomware, Ryuk, is often tied to the Russian hacking group known as Wizard Spider.  The DOJ noted that Ryuk has been used to target thousands of victims worldwide across various sectors.  In October 2020, law enforcement officials specifically identified Ryuk as an imminent and increasing cybercrime threat to hospitals and healthcare providers in the United States.  The DOJ said that “between at least August 2018 and August 2021, Dubnikov and his co-conspirators laundered the proceeds of Ryuk ransomware attacks on individuals and organizations throughout the United States and abroad.  In July 2019, according to the DOJ, a U.S. company paid 250 Bitcoin ransom to regain access to files encrypted by Ryuk. Later that month, Dubnikov accepted 35 Bitcoin from that ransom payment in exchange for $400,000.

Cyberscoop reports: "Russian Ransomware Money Launderer Pleads Guilty to Funneling Ryuk Payments"