Denis Dubnikov was sentenced to time served and a $2,000 forfeiture.
Denis Dubnikov, a founder of two over-the-counter (OTC) trading desks in Russia tied to ransomware attacks, was sentenced to no jail time and forfeiture of $2,000 last week after a guilty plea, court documents show.
Dubnikov is a founder of the Coyote Crypto and Eggchange OTC services in Russia. He was arrested in 2021 in the Netherlands and extradited to the US in 2022 for helping ransomware hackers cash out crypto. According to the US Department of Justice, Dubnikov helped the notorious Ryuk ransomware group launder more than $400,000 in ransom proceeds.
According to an indictment, Dubnikov was among the brokers who helped Ryuk launder the ransomware payouts by splitting payments into multiple smaller amounts, transferring them between self-hosted wallets and then exchanging bitcoin (BTC) for tether (USDT), other cryptocurrencies and fiat, especially the Chinese yuan.
Denis Dubnikov, a founder of two over-the-counter (OTC) trading desks in Russia tied to ransomware attacks, was sentenced to no jail time and forfeiture of $2,000 last week after a guilty plea, court documents show.
Dubnikov is a founder of the Coyote Crypto and Eggchange OTC services in Russia. He was arrested in 2021 in the Netherlands and extradited to the US in 2022 for helping ransomware hackers cash out crypto. According to the US Department of Justice, Dubnikov helped the notorious Ryuk ransomware group launder more than $400,000 in ransom proceeds.
According to an indictment, Dubnikov was among the brokers who helped Ryuk launder the ransomware payouts by splitting payments into multiple smaller amounts, transferring them between self-hosted wallets and then exchanging bitcoin (BTC) for tether (USDT), other cryptocurrencies and fiat, especially the Chinese yuan.
