Using Telegram for money laundering caught! Argentina arrests Russian citizen laundering money for North Korea, Binance assists in the investigation again.

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Argentina Dismantles North Korean Hacker Cryptocurrency Money Laundering Network

According to Argentinian media, unusual activities have been observed in a building in the capital Buenos Aires over the past few months. People frequently enter and exit the building carrying briefcases, bags, and backpacks. Within this illegal financial institution, not only were foreign currencies exchanged illegally, but cryptocurrency transactions were also involved. The operator in charge is a 29-year-old Russian citizen, V.B., who is alleged to have received up to $100 million in cryptocurrency proceeds from a cyber heist orchestrated by North Korean hackers. The case is currently under investigation by the United States Federal Bureau of Investigation (FBI).

Police Arrests Made, Cryptocurrencies Seized

The operation was carried out by detectives from the Cybercrime Technology Department of the Argentine Federal Police (PFA) and experts from the Special Prosecutor's Office for Cybercrime Investigations (Ufeic). During the search, authorities seized cryptocurrencies valued at $121,327, stored in decentralized wallets, and also discovered electronic devices that may contain key evidence related to money laundering and cryptocurrency transfer operations.

Investigators Receive Binance Support

According to investigators, V.B. frequently changed residences to avoid detection. Investigators received support from the Binance exchange and intelligence work from the PFA. Law enforcement officers ultimately tracked him to an apartment he recently rented. During the search, a translator was used to read the search warrant in Russian as V.B., despite residing in Argentina for two years, does not speak Spanish.

Telegram Money Laundering Again

During the search of the illegal financial institution, authorities found 15 million pesos in cash. The operation of this financial institution involved exchanges of rubles, USDT, euros, and Argentine pesos through bots on the Telegram application.

Proceeds Stem from Harmony Bridge Hack

V.B. has been indicted for ongoing money laundering activities and involvement in criminal organizations. The investigation began in November last year when Ufeic received leads about V.B.'s involvement in fraudulent activities planned with North Korean hackers in the Harmony Bridge hack case. The investigation revealed that some of the stolen funds had been transferred to a cryptocurrency wallet in Argentina.

More Suspicious Proceeds from Child Abuse and Terrorism Accounts

According to judicial records, TRM Labs' cryptocurrency analysis tool revealed that V.B. received transfers from accounts associated with child sexual abuse materials and terrorism funding. Additionally, it was found that he conducted suspicious transfers between multiple Binance users in Argentina and abroad, indicating a wider network possibly involving partners in Russia and Argentina. These users acted as "mule accounts" to obfuscate the traceability of assets through triangular fund transfers.

As of December last year, V.B. completed 2,463 cryptocurrency transfers totaling 4,532,305 USDT through Binance. He also purchased 1,312,205.15 USDT with rubles and conducted 102 cash exchange transactions of 29,062.40 USDT.

Global Money Laundering Cases Involving Cryptocurrencies and Telegram Proliferate

The investigation revealed that in a case in June 2022, hackers investigated by the FBI began dispersing stolen cryptocurrencies into different wallets to increase tracking difficulty. Some funds flowed into V.B.'s wallet, prompting authorities to expand the scope of the investigation to identify other possible transfers. "This is a highly significant investigation as we have identified that a significant portion of the large-scale fraud funds related to North Korean hackers have entered a virtual currency wallet in Argentina."

This action not only highlights the severity of money laundering issues in Argentina through cryptocurrencies but also demonstrates the global reach of cybercrime, with international criminals using advanced technology to conceal their activities. This also includes involvement with Telegram.

Recently, Telegram founder Pavel Durov was arrested in France for alleged lack of oversight on Telegram and suspected involvement in illegal activities. This event further underscores the blurred boundaries between online communication freedom and criminal activities, warranting further examination.

Why was Telegram founder and TON visionary Pavel Durov arrested? It's not about freedom, but crime and cryptocurrency.