Allegedly Involved In Money Laundering, Ukrainian Police Freeze 9 Cryptocurrency Exchange Platforms

Liputan6.com, Jakarta Supported by United States (US) law enforcement, Ukrainian police have suspended a number of crypto exchange services suspected of laundering proceeds of crime.

The platform allegedly processes dirty money earned from ransomware attacks and various fraudulent schemes.

The National Police of Ukraine announced, Officers from the Cyberpolice unit of Ukraine and the Main Investigation Department, in collaboration with the General Prosecutor’s Office have seized nine cryptocurrency exchanges.

Representatives from the US Federal Bureau of Investigation (FBI) also took part in what Ukrainian authorities described as a “multi-level international operation.”

Launching the Butcoin page, Thursday (4/5/2023), the web platform offers an anonymous cryptocurrency exchange. They are hired to facilitate the legalization of illegal funds.

Through these exchanges, criminals channel digital assets obtained as a result of malware attacks and online fraud. Their services are advertised on closed hacker forums.

The network infrastructure, which is located on servers in the United States, several European countries, and Ukraine, has been blocked during the operation. Investigators are now trying to identify all parties involved in the criminal activity.

Visitors to 24xbtc.com, 100btc.pro, pridechange.com, 101crypta.com, uxbtc.com, trust-exchange.org, bitcoin24.exchange, paybtc.pro, and owl.gold are now getting messages stating that the domain has been confiscated by law enforcement law.

Ukrainian government agencies have been working to increase their efforts on crypto asset supervision. A report revealed in March that employees of Cyberpolice, the Asset Recovery and Management Agency, and the Security Service of Ukraine (SBU) attended a training class hosted by the world’s leading crypto exchange, Binance.