Ransomware’s favorite Russian crypto exchange seized by law enforcement

By Ellen Jennings-Trace for TechRadar
Friday, March 7, 2025

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Cryptocurrency is a popular tool for cybercriminals, as currencies are largely anonymous, untraceable, and unregulated - with no central server or administrator. In fact, it’s been reported that around $40 billion worth of illicit crypto transactions took place in 2024, and is predicted to rise in 2025. Dr. Ilia Kolochenko, CEO at ImmuniWeb explains;

“While some jurisdictions are willingly blind and readily close their eyes to certain types of illicit activities related to both cybercrime and money laundering, operating a fully functional crypto exchange solely from those “safe havens” is virtually impossible in the interconnected world.”

"The good news is that we will probably see even more successful cyber operations by law enforcement agencies in 2025, while the bad news is that cybercriminals will certainly learn the lesson and will very soon resurrect with even more resilient infrastructure to continue their business.” Read Full Article