U.S. Treasury alleges that Sergey Ivanov has laundered hundreds of millions of dollars worth of virtual currency for cyber criminals and darknet marketplace vendors for the past 20 years. A network of people and virtual currency exchanges associated with harboring Russian cybercrime were hit with sanctions on Thursday,

A network of people and virtual currency exchanges associated with harboring Russian cybercrime have been hit with sanctions in a government-wide crackdown on cybercrime.

The U.S. Justice Department (DoJ) has charged two Russians, Sergey Ivanov and Timur Shakhmametov, with using crypto to launder money and also evade sanctions. These actions involved an indictment and the seizure of many illicit crypto exchanges.

In a major effort to combat international cybercrime, the United States has indicted two prominent Russian hackers and imposed sanctions on cryptocurrency exchanges allegedly involved in money laundering for cybercriminals.