International Task Force Shuts Down $390 Million Crypto Laundering Network Across 11 Countries

Security forces from 11 countries have dismantled a cryptocurrency laundering network that processed approximately $390 million in illicit proceeds, according to blockchain analytics data. The coordinated operation resulted in the detention of two suspects—one Russian and one Ukrainian—in Georgia, along with the seizure of internet domains, servers, and crypto assets worth approximately $900,000.

The criminal network primarily concealed proceeds from ransomware attacks by circulating stolen funds through multiple wallets and accounts opened with fake identities. Blockchain analysis revealed more than 10,000 bitcoins linked to the network since 2021.