US Extradites Alleged Crypto Money Launderer From Netherlands

Denis Mihaqlovic Dubnikov is scheduled to face a five-day jury trial beginning on Oct. 4

AccessTimeIconAug 18, 2022 at 7:36 a.m. UTC
Updated Aug 18, 2022 at 2:20 p.m. UTC

Amitoj Singh is CoinDesk's regulatory reporter covering India. He holds BTC and ETH below CoinDesk's disclosure threshold of $1,000.

The United States has extradited an alleged cryptocurrency money launderer from the Netherlands, according to a Department of Justice press release.

Denis Mihaqloviv Dubnikov, 29, a Russian citizen, made an initial appearance in federal court in Portland, Oregon, on Wednesday, and a five-day jury trial is scheduled to begin on Oct. 4. If convicted, Dubnikov faces a maximum sentence of 20 years in prison, the DOJ release said.

The DOJ cites court documents that allege Dubnikov and his accomplices laundered ransom payments extracted from victims of Ryuk ransomware attacks.

"After receiving ransom payments, Ryuk actors, Dubnikov and his co-conspirators, and others involved in the scheme, allegedly engaged in various financial transactions, including international financial transactions, to conceal the nature, source, location, ownership, and control of the ransom proceeds," the DOJ release said.

Ryuk is a ransomware software that has targeted thousands of victims worldwide.

Dubnikov is alleged to have laundered more than $400,000 in Ryuk ransom proceeds. "Those involved in the conspiracy laundered at least $70 million in ransom proceeds," the DOJ alleges.

Multiple agencies are working on the case. The Justice Department's Office of International Affairs handled Dubnikov's extradition, coordinating efforts with the department's Ransomware and Digital Extortion Task Force created to combat digital extortion attacks. The FBI's Portland Field Office is investigating the case.

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Amitoj Singh is CoinDesk's regulatory reporter covering India. He holds BTC and ETH below CoinDesk's disclosure threshold of $1,000.

CoinDesk - Unknown

Amitoj Singh is CoinDesk's regulatory reporter covering India. He holds BTC and ETH below CoinDesk's disclosure threshold of $1,000.

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