Cryptocurrency exchange network accused of helping Russia hit with sanctions

abcnews.go.com:

A network of people and virtual currency exchanges associated with harboring Russian cybercrime have been hit with sanctions in a government-wide crackdown on cybercrime

WASHINGTON — A network of people and virtual currency exchanges associated with harboring Russian cybercrime were hit with sanctions on Thursday, in a government-wide crackdown on cybercrime that could assist Russia ahead of President Joe Biden's meeting with Ukrainian President Volodymyr Zelenskyy.

U.S. Treasury sanctioned alleged Russian hacker Sergey Ivanov and Cryptex — a St. Vincent and Grenadines registered virtual currency exchange operating in Russia. Virtual currency exchanges allow people and businesses to trade cryptocurrencies for other assets, such as conventional dollars or other digital currencies.

Treasury alleges that Ivanov has laundered hundreds of millions of dollars worth of virtual currency for cyber criminals and darknet marketplace vendors for the last 20 years, including for Timur Shakhmametov, who allegedly created an online marketplace for stolen credit card data and compromised IDs called Joker’s Stash. Ivanov laundered the proceeds from Joker’s Stash, Treasury says.

The State Department is offering a $10 million reward for information that would lead to the arrest and possible conviction of the two men and the U.S. Attorney’s Office in Virginia has unsealed an indictment against them.

Biden said in a statement announcing the sanctions Thursday that the U.S. “will continue to raise the costs on Russia for its war in Ukraine and to deprive the Russian defense industrial base of resources.”

He meets with Zelenskyy Thursday to announce a surge in security assistance for Ukraine and other actions meant to assist the war-torn