U.S. Seeks Russian Money Launderers Involved in Billion-Dollar Cybercrime Scheme

U.S. authorities are on the hunt for two Russian nationals, Sergey Ivanov, known as “Taleon,” and Timur Shakhmametov, a.k.a. “JokerStash” or “Vega.” The Department of Justice (DOJ) unsealed an indictment on September 26, charging the two with money laundering, conspiracy, and aiding and abetting bank fraud in connection with a major cybercrime operation. The charges reveal their roles in laundering proceeds from carding websites like “Joker’s Stash” and “Rescator.”

The DOJ, in collaboration with the State Department, the Treasury Department, and international law enforcement, also seized several cryptocurrency exchange websites linked to this operation. “This indictment marks a significant step in our ongoing efforts to combat cybercrime and disrupt the illegal activities of cybercriminals operating on the dark web,” the DOJ stated in a press release.

Carding Websites and Their Role in Cyber Fraud

The scheme operated through carding, a type of cyber fraud where hackers steal credit card information via skimming devices or data breaches and then sell the stolen data on the dark web. The stolen credit card information is then bought and used by other criminals for fraudulent activities.

Shakhmametov allegedly created “Joker’s Stash” in October 2013, according to the indictment. This dark web marketplace became a hub for stolen credit card data, offering around 40 million compromised payment cards for sale annually. Prosecutors estimate that the website generated profits ranging from $280 million to over $1 billion during its operation.

“Joker’s Stash became one of the largest carding markets in history, making millions from the sale of stolen credit card data,” noted a federal official familiar with the investigation.

Ivanov, according to the charges, created and managed three payment services to facilitate money transfers for purchasing stolen credit card data from Joker’s Stash. He also operated another carding website, “Rescator,” which played a significant role in cyber fraud.

Rescator’s Impact on U.S. Retailer

“Rescator” is credited with one of the most significant data breaches in recent years. In 2013, the website stole payment data from around 40 million cards and the personal information of approximately 70 million people from a single U.S.-based retailer. The incident caused an estimated $202 million in losses for the retailer and led to widespread financial and personal identity theft among consumers.

The indictment emphasizes the extensive damage caused by Ivanov and Shakhmametov’s activities. “Their actions have harmed millions of people, compromised the financial integrity of institutions, and severely damaged trust in online transactions,” a spokesperson for the DOJ said.

Rewards Offered for Information on Russian Cybercriminals

The State Department has announced a reward of up to $10 million for information leading to the arrest or conviction of Sergey Ivanov and Timur Shakhmametov. Additionally, a reward of $1 million is available for information that exposes other key figures behind Joker’s Stash or any associated money transfer services.

The call for public assistance underscores the urgency of the case. “If you have any information on these cyber-fraudsters, listen up because it could make you rich,” stated the announcement.

Financial Sanctions and Additional Measures

The U.S. Treasury Department has also imposed sanctions on Ivanov and several of his virtual money transfer companies, including PM2BTC, UAPS, and Cryptex. The Treasury’s Financial Crimes Enforcement Network has identified PM2BTC as a key player in Ivanov’s money laundering activities. The company has also been linked to ransomware attacks, where hackers infect computers and lock access to data, demanding payment for restoration.

“These sanctions aim to disrupt Ivanov’s operations and limit his ability to access the international financial system,” the Treasury Department announced in a press release.

Reporting Cybercrime

Authorities are urging anyone who has fallen victim to cybercrime to report their cases immediately. “If you are the victim of a cybercrime, The Internet Crime Complaint Center urges you to report it as soon as possible,” an FBI representative stated. Reports can aid in ongoing investigations and help bring cybercriminals to justice.

The ongoing efforts to apprehend Ivanov and Shakhmametov represent a coordinated international push against cybercriminals who exploit the dark web to enrich themselves at the expense of innocent people. As the search continues, the DOJ and its partners remain committed to bringing these individuals to justice and dismantling their criminal networks.