Texas FBI agents made up a significant part of the team that investigated a suspect, by the name of Ianis Aleksandrovich Antropenko, for computer fraud and the money laundering of crypto assets. Now completed, the investigation led to the seizure of nearly $3 million worth of digital currency and Antropenko being charged.

Crypto is gaining popularity all across the world at an unprecedented rate, and many regular citizens enjoy the increased security and ability to grow wealth that cryptocurrency brings. In general, crypto is deemed a secure payment method for a variety of different reasons. It is decentralized, meaning it does not rely on the involvement of third-party organizations, such as banks. Instead, transactions are encrypted and pass through a huge public ledger called the blockchain. Through this encryption, transactions are not tethered to an individual and their personal information, but their cryptographic keys, making it highly difficult for hackers to trace transactions to a source. This being said, some criminals and criminal organizations are learning ways to overcome these challenges.

However, some sectors are going above and beyond when it comes to protecting their users’ information. One example of this comes from the online casino world. Although it is not legal to use online casinos in Texas itself, many Texans make use of the numerous online crypto casino platforms available to them whenever they travel out of the state for either business or leisure. As crypto casino expert Caroline states, many of these sites give gamblers an extra layer of anonymity and security through no know-your-customer (KYC) checks. On top of this, they offer a variety of bonuses and incentives that traditional gambling platforms struggle to match (source: https://99bitcoins.com/best-bitcoin-casino/bitcoin-blackjack-sites/). 

During the investigation, the Department of Justice authorized the investigators’ wish to seize over $2.8 million worth of digital assets from a crypto wallet owned by Antropenko. A crypto wallet is a virtual wallet that stores a private key and gives crypto users access to their assets. On top of the wallet, the investigators also seized a luxury car and $70,000 in cash.

After the investigation, Antropenko was charged with conspiring to commit computer fraud and abuse, conspiracy to commit money laundering, and computer fraud and abuse. His indictment, which took place in the Northern District of Texas, states that he used ransomware to attack individual crypto investors, alongside businesses and worldwide organizations that have adopted digital assets into their day-to-day running.

He obtained these crypto assets through various means, according to the Department of Justice, including a service called Chipmixer, which has now been disabled to protect others. Alongside this, he also exchanged the proceeds from his attacks into cash.