Netherlands extradits Russian (29) to US for bitcoin scams
The Netherlands has extradited a suspect to the US. It concerns a 29-year-old Russian man suspected of laundering criminal money through cryptocurrencies. That does US Department of Justice.
Denis Mikhalov Dabnikov, who holds a Russian passport, appeared in federal court in Portland, Oregon this week. The five-day jury process will begin in October. In the worst case, the Russian could be sentenced to 20 years in prison.
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He was allegedly part of a group of hackers who carried out cyber attacks known as Ryuk ransomware. The group has been attacking governments and corporations with this type of ransomware targeting Windows systems since 2018. Once the system crashes, a ransom is usually demanded in Bitcoin or other currencies.
According to the US Department of Justice, the proceeds of these hacks are misused through all kinds of financial transactions. In total, the group around Dubnyko stole $70 million in ransom. Personally, he allegedly embezzled more than $400,000 in ransom money.
Both the US and Europe have specialized units that focus on digital extortion cases. There are also known cases of organizations being pressured to pay ransoms in Bitcoin in the Netherlands.
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