Threat Management

U.S. extradites Russian involved in Ryuk ransomware money laundering scheme

The U.S. has extradited Russian national Denis Mihaqlovic Dubnikov from the Netherlands to face charges regarding his alleged involvement in a money laundering scheme associated with the Ryuk ransomware operation, SecurityWeek reports. From August 2018 to August 2021, Dubnikov was allegedly enlisted by Ryuk actors to facilitate the laundering of cryptocurrency received from organizations impacted by ransomware attacks in an effort to better conceal details regarding the ransom payments, according to the U.S. Department of Justice. At least $70 million have been laundered by Dubnikov and his co-conspirators, with more than $400,000 laundered by Dubnikov alone in July 2019, the Justice Department said. Dubnikov could be sentenced to 20 years imprisonment and fined $500,000 if found guilty. Industrial organizations have been the primary target of the Ryuk ransomware operation, which became one of the most active ransomware groups following its emergence in 2018 before being overtaken by the Conti ransomware operation in 2020.

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