PORTLAND, Ore. — In a stunning turn of events, Denis Mihaqlovic Dubnikov, the Russian cryptocurrency money launderer responsible for the sordid scheme involving the Ryuk ransomware, pleaded guilty in federal court today.
The 30-year-old entered his plea on February 6, 2023, to one count of conspiracy to commit money laundering. According to court documents, Dubnikov and his co-conspirators were involved in a massive operation that laundered the proceeds of Ryuk ransomware attacks from at least August 2018 to August 2021.
The Ryuk ransomware has been a relentless cyber threat, encrypting files and deleting backups on thousands of computers worldwide. In July 2019 alone, Dubnikov accepted 35 Bitcoin, equivalent to approximately $400,000, directly sourced from a ransom paid by an American company.
Dubnikov then converted the Bitcoin into Tether and further into Chinese Renminbi, all while keeping his name off the trail. His role in the scheme was financially rewarding, but now he faces serious consequences for his actions.
The defendant was extradited from the Netherlands and arrested in Amsterdam on November 2, 2021. He was extradited to the United States in August 2022 and will be sentenced on April 11, 2023. Dubnikov could face up to 20 years in federal prison, three years’ supervised release, and a fine of $500,000.
This case has been meticulously investigated by the FBI and is being prosecuted by the U.S. Attorney’s Office for the District of Oregon. The Justice Department extends its gratitude to Dutch authorities for their role in Dubnikov’s arrest and extradition.
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Key Facts
- State: Oregon
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes|Cybercrime
- Source: Official Source ↗
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