E-Note Crypto Exchange Seized: $70M Ransomware Laundering Operation Disrupted
In December 2025, U.S. law enforcement agencies, in collaboration with Finnish and German authorities, seized the E-Note cryptocurrency exchange after investigating its role in facilitating ransomware-related money laundering. The FBI identified that over $70 million in proceeds from ransomware attacks and account takeover operations were funneled through E-Note since 2017, relying on a broad, international money mule network. The operation involved confiscating E-Note’s domains, mobile applications, servers, and transaction databases, severely disrupting a key enabling service for cybercriminals and potentially exposing a wide array of threat actors utilizing the platform. The alleged operator, Mykhalio Petrovich Chudnovets, has been indicted for money laundering and faces significant penalties. The takedown of E-Note highlights growing law enforcement action against illicit cryptocurrency infrastructure used by ransomware operators and cybercriminal ecosystems. The incident exemplifies an intensifying focus on disrupting financial channels that allow attackers to monetize stolen data and ransom payments, signaling increasing risk for enablers and users of such services.
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