๐จ Crypto Founder Arrested in $530M Sanctions-Busting Scheme
Breaking:
Iurii Gugnin, founder of Evita Pay, arrested in NY for allegedly laundering $530M from Russian banks via crypto.
๐ Key Charges:
โช๏ธ Wire fraud & bank fraud (30-year max)
โช๏ธ Money laundering (life sentence possible)
โช๏ธ Operating unlicensed money transmitter
โ ๏ธ How It Worked:
โ๏ธ Used Tether (USDT) to move funds for sanctioned entities
โ๏ธ Faked compliance while bypassing AML checks
โ๏ธ Targeted blacklisted Russian banks (2023-2025)
๐ก Why This Matters:
๐ Shows increased DOJ focus on crypto sanctions evasion
๐ Reinforces need for strict KYC/AML in crypto firms
๐ฅ Another case of stablecoins exploited for illicit flows
#Stablecoins #Regulation #USDT #MoneyLaundering #CryptoNews
(Not your keys, but definitely their jurisdiction.) โ๏ธ