Denis Dubnikov, a Russian crypto entrepreneur, has been sentenced to probation and fined in the U.S. after pleading guilty for laundering money from ransomware attacks. The 30-year-old crypto businessman was arrested in the Netherlands in November 2021 and extradited to the U.S. in August 2022. According to the court documents, Dubnikov is the owner of two crypto currency exchanges, Coyote Crypto and Eggchange and he was initially accused of laundering proceeds from the Ryuk ransomware attacks.

A U.S. company had paid a ransom of 250 BTC, worth approx. $3.1 million, in July 2019 following a Ryuk attack. Dubnikov agreed to exchange 35 BTC for approximately $400,000 in cash and it is stated that he was not aware of these proceeds coming from ransomware activity. The U.S. court has ordered Dubnikov to forfeit a portion of $2,000 of what he made as a result of his criminal activity and to pay $10,100 in criminal monetary penalties.

Ryuk is a type of malicious software designed to infect and encrypt computers, leaving victims unable to use their system until a ransom is paid. Since its first identification in 2018, it has been used to attack numerous victims worldwide, including health care providers in the United States. The court sentence takes into account the willfulness of his crime as well as the time he spent in custody and includes probationary requirements such as regular reporting to police, taking drug tests and providing DNA samples.



Other News from Today