The US Department of Justice has accused a Russian national of operating an extensive scheme to launder money and circumvent international sanctions, using cryptocurrencies as a vehicle, the Financial Times reports. Prosecutors allege he managed a “covert pipeline for dirty money,” funneling illicit proceeds through digital assets to mask their origin.
Authorities say the suspect, identified as the founder of a payments company, structured transactions to hide ties to sanctioned individuals and entities. He is now facing charges including money laundering, sanctions evasion, and export control violations—underscoring growing concerns about Russia’s use of crypto to evade international financial restrictions .
This case marks another instance of regulators cracking down on the intersection of illicit finance and cryptocurrency technology. It reflects broader international efforts to close loopholes in the crypto ecosystem that allow bad actors to move and conceal money with limited oversight.