The post FBI busts $70 million crypto laundering service run by a Russian appeared on BitcoinEthereumNews.com.

The U.S. Federal Bureau of Investigation (FBI) has dismantled a money laundering platform that provided cashout services to cybercriminals using cryptocurrency. The illegal exchange, operated by a Russian national, is believed to have processed the staggering $70 million in illicit proceeds, American judicial authorities revealed. USA disrupts Russian-led virtual money laundromat The United States Attorney’s Office for the Eastern District of Michigan announced Wednesday the results of the law enforcement action, carried out with European partners and police in the state. According to the press release, the FBI has disrupted a crypto trading venue branded E-Note, including by taking down the online infrastructure that underpinned its activities. The digital-asset exchange allegedly facilitated money laundering by transnational cybercriminal organizations. Among them, some of those targeting healthcare systems and other critical infrastructure in the U.S. The announcement further detailed: “Since 2017, the FBI identified more than $70,000,000 of illicit proceeds of ransomware attacks and account takeovers transferred via E-Note payment service and money mule network, including laundered funds stolen or extorted from U.S. victims.” The office also unveiled the unsealing of an indictment against a person identified as Mykhalio Petrovich Chudnovets, a 39-year-old Russian citizen who has been charged with one count of conspiracy to launder monetary instruments. The man has been in the business for quite some time. According to the quoted court documents, he started offering money laundering services to cybercriminals in 2010. These were provided through the E-Note payment processing service, which was under his control and management. U.S. officials explained: “Chudnovets worked with financially motivated cybercriminals to transfer criminal proceeds across international borders and to convert those proceeds from cryptocurrency into various cash currencies.” As part of the coordinated international effort, servers hosting his operations, as well as mobile apps employed by the Russian, have been seized. The…

---

Filed under: News - @ December 18, 2025 8:23 pm