The Federal Bureau of Investigation (FBI), in coordination with international law enforcement agencies from Germany and Finland, has taken down the online infrastructure of a cryptocurrency-based money laundering service allegedly used by global ransomware and cybercrime groups, the U.S. Department of Justice (DOJ) announced on Wednesday.
According to the DOJ, the cryptocurrency exchange known as E-Note was used to launder funds stolen through cyberattacks targeting healthcare organizations, critical infrastructure, and other victims worldwide. Authorities allege that since 2017, E-Note’s payment services and money mule network processed more than $70 million connected to ransomware and other cyber-enabled crimes.
In connection with the case, the DOJ unsealed an indictment in the Eastern District of Michigan against Mykhalio Petrovich Chudnovets, a 39-year-old Russian national accused of operating E-Note. Chudnovets faces a federal money laundering charge that carries a maximum penalty of 20 years in prison. Court documents allege that he has been laundering money for cybercriminal organizations since as early as 2010.
As part of the coordinated law enforcement operation, authorities seized servers, mobile applications, and three websites associated with the illicit service—e-note.com, e-note.ws, and jabb.mn. Investigators also confiscated customer databases and detailed transaction records linked to the operation.
The investigation was carried out with support from the Michigan State Police, the German Federal Criminal Police Office (BKA), and the Finnish National Bureau of Investigation, highlighting the growing international cooperation to combat cybercrime and financial networks that support ransomware operations.
U.S. officials emphasized that the takedown represents a significant step in disrupting the financial infrastructure that enables cybercriminal groups to profit from ransomware and other digital extortion schemes.