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How Cryptocurrency Turns to Cash in Russian Banks

Krebs on Security

A financial firm registered in Canada has emerged as the payment processor for dozens of Russian cryptocurrency exchanges and websites hawking cybercrime services aimed at Russian-speaking customers, new research finds. A machine-translated version of Flymoney, one of dozens of cryptocurrency exchanges apparently nested at Cryptomus.

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U.S. Sanctions Cloud Provider ‘Funnull’ as Top Source of ‘Pig Butchering’ Scams

Krebs on Security

Pig butchering is a rampant form of fraud wherein people are lured by flirtatious strangers online into investing in fraudulent cryptocurrency trading platforms. The agency said Funnull directly facilitated pig butchering and other schemes that resulted in more than $200 million in financial losses by Americans.

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