Law enforcement agencies have seized the servers and internet domains of the E Note cryptocurrency exchange, which is accused of helping cybercriminals launder more than 70 million dollars.
According to U.S. authorities, the money is believed to have come from ransomware attacks and account takeover crimes. The stolen funds were allegedly moved through E Note using an international network of so-called money mules to hide their origins.
The U.S. Department of Justice said the FBI tracked more than 70 million dollars in illegal proceeds that passed through the E-Note payment service and its money mule network since 2017. The funds included money stolen or extorted from victims in the United States.
The takedown was carried out with the help of international partners, including the Finnish National Bureau of Investigation and German police. They worked alongside the U.S. Department of Justice, the FBI, and Michigan State Police. Authorities seized the domains e note dot com, e note dot ws, and jabb dot mn, and removed the mobile apps linked to the service.
Investigators also confiscated servers that hosted the exchange and its apps. Copies of customer databases and transaction records were taken as part of the operation.
Officials noted that illegal platforms often use mobile apps as a private communication channel between users and operators. These apps are designed to offer more privacy and make it harder for law enforcement to track activity.
U.S. prosecutors have unsealed charges against Mykhalio Petrovich Chudnovets, a 39-year-old Russian national believed to be the operator of E Note. He has been charged with conspiracy to commit money laundering.
Authorities say Chudnovets began offering money laundering services to cybercriminals as early as 2010. He is accused of helping criminals move money across borders and convert cryptocurrency into traditional cash.
No arrests have been made so far, but if convicted, Chudnovets could face up to 20 years in prison.
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Law enforcement officials believe the seized customer data and transaction records could help identify more cybercriminals and users of the E Note service, potentially leading to further investigations and charges in the future.
