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Guilty plea entered by e-BTC operator for money laundering | SC Media

The U.S. Department of Justice announced that Russian Alexander Vinnik, who operated the dismantled BTC-e cryptocurrency exchange, has entered a guilty plea over charges relating to his involvement in laundering cybercrime proceeds worldwide between 2011 and 2017, reports The Hacker News.

Aside from receiving more than $4 billion worth of Bitcoin, BTC-e had also processed over $9 billion worth of transactions from more than 1 million users around the world until its shutdown nearly seven years ago, according to the Justice Department.

“BTC-e was one of the primary ways by which cyber criminals around the world transferred, laundered, and stored the criminal proceeds of their illegal activities. Vinnik operated BTC-e with the intent to promote these unlawful activities and was responsible for a loss amount of at least $121 million,” said the Justice Department.

Such a development follows money laundering charges filed by the U.S. against fellow BTC-e operator Aliaksandr Klimenka in February.

More complex simulations and actors are being mulled by the U.S. Cyber Command to be included in its Persistent Cyber Training Environment client to bolster mission rehearsal and training for the agency’s cyber mission force amid increasingly sophisticated cybersecurity threats, DefenseScoop reports.

Operational measures were noted by Deputy National Security Advisor for Cyber and Emerging Technologies Anne Neuberger to be a crucial factor in addressing cybersecurity risks, according to The Record, a news site by cybersecurity firm Recorded Future.

AI and “secure by design” will be crucial to defend against ransomware, CI attacks and AI threats in the coming years.

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