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Russian Man Extradited to US for Laundering Ryuk Ransomware Cash

By Eduard Kovacs on August 18, 2022

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A Russian nationwide has been extradited from the Netherlands to the USA, the place he faces prices associated to his alleged function within the Ryuk ransomware operation.

The suspect is 29-year-old Denis Mihaqlovic Dubnikov, whose trial is scheduled to start on October 4.

In accordance with authorities, cybercriminals who had been utilizing the Ryuk ransomware to extort cash from organizations relied on the person to launder the cryptocurrency acquired from victims.

The DoJ stated Dubnikov was energetic between August 2018 and August 2021, serving to launder vital quantities of cash by numerous sorts of monetary transactions. The aim was to cover the possession, supply, location and management of the ransom funds.

The DoJ stated Dubnikov and his co-conspirators laundered at the least $70 million, with Dubnikov himself allegedly laundering greater than $400,000 in July 2019.

The Russian nationwide was arrested within the Netherlands in November 2021 and he was extradited to the US this week.

He has been charged by a federal grand jury in Portland and he faces as much as 20 years in jail and a advantageous of $500,000.

The Ryuk file-encrypting ransomware emerged in 2018 and for a couple of years it was one of the energetic operations, till it was regularly changed by Conti over the course of 2020 and 2021. Ryuk was usually noticed focusing on industrial organizations, and in early 2021 researchers estimated that the Ryuk felony enterprise had been price $150 million.

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