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Russian cybercrime: Hackers are seeking alternative money-laundering options

If I say that Russia is not second to anyone in the matter of cybercrime, the Russian cybercrime community is completely active and fearful, then it will not be wrong at all, and in view of this, the government and the law and order there are constantly turning to new and innovative methods of quick alternative money-laundering due to law enforcement actions against dark web markets so that they can rein in these cybercriminals and keep his people safe.

Russian cybercrime

The war which is going on at present between Russia and Ukraine can also be a big reason that cybercriminals are more active because the war going on between these two countries is affecting the whole world. And many countries have even broken the trade agreement with Russia and not only this, but many countries have also closed Russia. And for this reason, Russian cybercrime started thinking about doing something new and different which has not happened till now.

And these all have a direct effect on the economy of Russia as well, and when the economy of a country is not good, then it becomes common to increase various types of crimes in that country, and the cybercriminals there also want to take advantage of it. It might be possible that cybercriminals want to help their country in the hour of the crisis in this economy. Well, now it will be difficult to tell what the cyber criminals think and what is their mentality behind all this.

Only because of the war between Russia and Ukraine first led to bank embargoes and a moratorium on SWIFT payments, which completely paralyzed the regular channels for cash flow used exclusively by these cybercriminals, and thus they became even more distraught and started planning in his dreaded mind on how to make up for the damage caused by it.

Not only this, the matter was not going to stop there, followed by the suspension of Russian operations of direct money transfer services like Western Union and MoneyGram. This added to their troubles because these cybercriminals usually use them on a regular basis to get payments from any victim without revealing their real identity so that they can be safe in the future and that is why it is very difficult to get these cybercriminals punished or just because of this the Russian cybercrime seeking alternative money-laundering options.

So, now I am going to tell you some more exciting things, which you will also be shocked to hear for a while, almost all the servers of Hydra Market, Russia’s largest darknet platform, were finally confiscated by the German police, due to which Russia has almost Annual turnover of more than $1.35 billion had to go down and due to this common services like money-laundering continued.

Then the very next day, the U.S. finally approved the Garantex, it is one of the most useful and important platforms of Russian cybercriminals, which they use to launder their cybercriminals the stolen money and this was a piece of big news for them, and After that, in the year 2021, a huge wave of restrictions on similar dangerous platforms started.

And now finally, Binance has become the first very large cryptocurrency exchange to compulsorily ban Russian users from making any kind of transactions or investments, ditch it will continue to happen for the time being due to wars all over the world. Somewhere there is worried and trouble, then at the same time, these cybercriminals are trying to execute their different plan.

About the author

Christopher Edwards

Hey This is Chris, I am a Malware researcher and security analyst. I love to find out about new threats and viruses and I started this website to teach people how to stay safe online. You will get all the latest malware removal tips and tricks here. You can also ask for any virus related problem in comment section or through our contact page.