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US seizes E-Note crypto exchange for laundering ransomware payments

Published:

18 December 2025 at 16:13:03

Alert date:

18 December 2025 at 17:01:35

Source:

bleepingcomputer.com

Ransomware & Malware, Data Breach & Exfiltration

US law enforcement seized the E-Note cryptocurrency exchange's servers and domains for allegedly laundering over $70 million in ransomware payments. The exchange was used by cybercriminal groups to convert illicit proceeds from ransomware attacks. This represents a significant law enforcement action against cryptocurrency-based money laundering operations supporting ransomware ecosystems. The seizure disrupts a key financial infrastructure component used by multiple ransomware groups.

Technical details

E-Note cryptocurrency exchange operated as a money laundering service since 2017, facilitating the laundering of over $70 million from ransomware attacks and account takeover attacks. The platform used an international network of money mules to transfer funds across countries and convert cryptocurrency proceeds into fiat currency. Law enforcement seized servers, domains, mobile applications, customer databases, and transaction records. The operator Mykhalio Petrovich Chudnovets provided money-laundering services to cybercriminals since 2010.

Mitigation steps:

Law enforcement has already seized the platform and domains. The seizure of client databases and transaction details may help identify more cybercriminals and assist in future law enforcement actions. Organizations should be aware of cryptocurrency exchanges being used for money laundering activities.

Affected products:

E-Note cryptocurrency exchange
E-Note mobile applications