Ryuk Ransomware Gang’s Crypto Broker Gets Slap on Wrist with Guilty Plea

Ryuk Ransomware Gang’s Crypto Broker Gets Slap on Wrist with Guilty Plea

written by John Murphy | April 18, 2023

According to recent news, a founder of two OTC trading desks in Russia named Denis Dubnikov was linked to the ransomware attacks. Court documents highlighted that after a guilty plea last week, he the “Gang’s Crypto Broker” was forfeiture of $2000 and sentenced to no jail.

Key Takeaways:

  • Dubnikov, a Russian OTC trading desk founder, is guilty of money laundering linked to ransomware attacks.
  • Dubnikov aided the Ryuk group to launder $400k by splitting ransoms, transferring to wallets, and exchanging for different cryptos and fiat.
  • Dubnikov was sentenced to $2k forfeiture and time served; would have faced >20 yrs if a not-guilty plea.
  • Dubnikov received a lenient sentence despite involvement in ransomware.
  • The case highlights the need for stronger crypto-related crime regulations.

CoinDesk took to Twitter to announce the sentence of an operator of two trading desks in Russia named Denis Dubnikov because of the laundering of $2000. He was guilty of his link with ransomware laundering a week before his sentence.

Moreover, he initiated OTC’s Exchange and Coyote services in Russia. In 2021, he seized in the Netherlands. In 2022, for helping ransomware hackers to earn money, he deports to the United States.

Moreover, the Department of Justice of the United States highlighted that Dubnikov assisted an infamous ransomware group in laundering $400,000.

BitlyFool.com announced on Twitter about the conviction of the Crypto broker of the Ryuk Ransomware gang after a guilty plea.

Let’s see the reason behind Dubnikov’s sentence. The indictment reported that Dubnikov was a Crypto broker who helped Ryuk launder to split ransom amounts into different small amounts.

Additionally, he assists launders in transferring this Ransome amount into self-hosted wallets. Then he helped to exchange Bitcoin with Chinese yuan, tether, fiat, and other cryptocurrencies.

Tom DeRosa announced on Twitter that Denis Dubnikov seized for $2000 forfeiture and to time served. He gets punishment and release on the bale.

However, if he declares guilty, he must spend more than 20 years in prison. He pleads guilty to the conspiracy of committing money laundering this February.

On 11 April, Dubnikov got punishment for the specific time served. He has permission to release on parole. Moreover, it is clear from the court case documents that he was sentenced to forfeit $2000.