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Cryptocurrency Turns to Cash in Russian Banks (2024)
A financial firm registered in Canada has emerged as the payment processor for dozens of Russian cryptocurrency exchanges and websites hawking cybercrime services aimed at Russian-speaking customers, new research finds. Meanwhile, an investigation into the Vancouver street address used by…
A financial firm registered in Canada has emerged as the payment processor for dozens of Russian cryptocurrency exchanges and websites hawking cybercrime services aimed at Russian-speaking customers, new research finds. Still, KrebsOnSecurity could find no obvious connections between the 56 Russian cryptocurrency exchanges identified by Sanders and the dozens of payment companies that FINTRAC says share an address with the Cryptomus parent firm Xeltox Enterprises. “We see threat actors engaged in ransomware, narcotics, darknet markets, fraud, cybercrime, sanctioned entities and jurisdictions, and hacktivism making deposits to Cryptomus for purchases but also laundering the services using Cryptomos payment API,” the company said in a statement.
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