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Cryptomus fined $176M for facilitating cybercrime and money laundering

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1 unique sources, 1 articles

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Cryptomus, a digital payments platform, was fined $176M by Canadian regulators for violating anti-money laundering laws. The platform supported numerous Russian cryptocurrency exchanges and cybercrime services. The fine follows investigations revealing Cryptomus's involvement in laundering proceeds from child sexual abuse material, fraud, ransomware payments, and sanctions evasion. The platform facilitated transactions for various cybercrime services, including bulletproof hosting, aged account sales, anonymity services, and anonymous SMS providers. Cryptomus processed transactions for over 56 cryptocurrency exchanges, many of which were used to anonymously swap cryptocurrencies and exchange them for cash in sanctioned Russian banks.

Timeline

  1. 22.10.2025 20:21 1 articles · 23h ago

    Cryptomus fined $176M for facilitating cybercrime and money laundering

    On October 16, 2025, FINTRAC imposed a $176,960,190 penalty on Cryptomus for violating anti-money laundering laws. The platform was found to have facilitated transactions for various cybercrime services and processed transactions for over 56 cryptocurrency exchanges. The fine is the largest imposed by FINTRAC, which had previously imposed 23 penalties totaling less than $26 million in the previous year.

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Information Snippets

  • Cryptomus was fined $176,960,190 by the Financial Transactions and Reports Analysis Center of Canada (FINTRAC) for violating anti-money laundering laws.

    First reported: 22.10.2025 20:21
    1 source, 1 article
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  • Cryptomus failed to submit suspicious transaction reports related to child sexual abuse material, fraud, ransomware payments, and sanctions evasion.

    First reported: 22.10.2025 20:21
    1 source, 1 article
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  • Cryptomus supported dozens of Russian cryptocurrency exchanges and cybercrime services.

    First reported: 22.10.2025 20:21
    1 source, 1 article
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  • The platform facilitated transactions for services like bulletproof hosting, aged account sales, anonymity services, and anonymous SMS providers.

    First reported: 22.10.2025 20:21
    1 source, 1 article
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  • Cryptomus processed transactions for over 56 cryptocurrency exchanges, many of which were used to anonymously swap cryptocurrencies and exchange them for cash in sanctioned Russian banks.

    First reported: 22.10.2025 20:21
    1 source, 1 article
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  • Cryptomus's Vancouver address was home to numerous foreign currency dealers, money transfer businesses, and cryptocurrency exchanges, none of which were physically located there.

    First reported: 22.10.2025 20:21
    1 source, 1 article
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  • The fine is the largest imposed by FINTRAC, which had previously imposed 23 penalties totaling less than $26 million in the previous year.

    First reported: 22.10.2025 20:21
    1 source, 1 article
    Show sources