Cryptocurrency Exchanges Linked to Ransomware

Nine cryptocurrency exchange websites have been taken down by the FBI and the Ukrainian police in a daring joint operation. Cybercriminals and ransomware gangs use these websites to launder money for cybercriminals. This is because these websites facilitate money laundering by criminals operating online. Ukrainian prosecutors’ offices and the Virtual Currency Response Team were also involved in the operation.

Several virtual currency exchange services were seized by the FBI on Monday. These services may have been used by cybercriminals to launder money obtained through ransomware hacks. As a result of a collaboration between the FBI’s Detroit Field Office and Ukrainian police, the Detroit FBI field office seized virtual currency exchanges used by criminals for anonymous transactions, the United States Department of Justice has announced.

There is a press release that states that the FBI also received support from the Virtual Currency Response Team (VCRT), the National Police of Ukraine, and the regional prosecutors as a result of the ‘crypto exchanges’ operation.