US Takes Down 2 Exchanges Laundering Russian Cryptocurrency

Two cryptocurrency exchanges were recently taken down by authorities. The PM2BTC and Cryptex sites were seized because they were laundering money!

Great job to the U.S. Secret Service and U.S. Department of Justice in disrupting hundreds of millions of dollars heading to Russia and taking down the illegal money laundering sites that were on track to move over a billion dollars.

It also shows how companies like Chainalysis are getting better at tracking illicit crypto transactions.

Overall, such efforts are improving the legitimacy and reputation of the cryptocurrency industry, while keeping the pressure on global cybercriminal activities.

Dept of Justice press release: https://www.justice.gov/opa/pr/two-russian-nationals-charged-connection-operating-billion-dollar-money-laundering-1

Chainalysis Report: https://www.chainalysis.com/blog/ofac-sanctions-russian-exchange-cryptex-uaps-fraud-shop-2024/

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