Crypto: Russian pleads guilty to a $ 568 million cryptocurrency fraud

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Russian pleads guilty to a $ 568 million cryptocurrency fraud

Russian Sergey Medvedev spoke at a US District Court in Nevada and pleaded guilty to $ 568 million. In 2010, the entrepreneur founded the Infraud platform. As a result, 4 million compromised debit card numbers were sold, damaging customers on American Express, Visa and MasterCard. Payment for this information was made using bitcoin, the now defunct Liberty Reserve token and other cryptocurrencies, according to a document published by the court.

Medvedev also acknowledged that he created a trading platform. It was used for money laundering by Infraud customers, whose number was 10,900. In addition, the platform was used to sell stolen equipment, data from accounts and malicious code.

At a court hearing, it was reported that Medvedev collected more than $ 1 million in Liberty Reserve symbols in 2013. The Russians were arrested in 2018 in Thailand. At that time, his service expected transaction processing to be 100,000 BTC, according to Bangkok Post. Then the US Department of Justice decided to close the Infraud platform. Medvedev is currently awaiting sentencing, and his announcement is scheduled for December 9, according to the court's website.

In April, the US Federal Investigation Agency arrested Russian Maxim Boyko, accused of having laundered money using cryptocurrencies.
The reason for the formation of the case against Boyko was the fact that he posted pictures on his Instagram account with bundles of money.

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