Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Vulnerabilities / Threats

5/9/2016
11:20 AM
50%
50%

Liberty Reserve Founder Gets 20 Years For Money Laundering

Convicted for virtual currencies laundering operations worth $8 billion.

Arthur Budovsky, 42, founder of digital currency empire Liberty Reserve, was sentenced to 20 years in prison and fined $500,000 Friday for running a massive money laundering enterprise used by cybercriminals worldwide.

The sentence was announced May 6 by Assistant Attorney General Leslie R. Caldwell for the Justice Department’s Criminal Division and U.S. Attorney Preet Bharara for the Southern District of New York, accordingn to a press release.

The defendant, according to US attorney Bharara, violated US criminal laws by facilitating “money laundering on a massive scale for criminals around the globe” through virtual currencies. Transactions included trafficking the illegal proceeds of Ponzi schemes, credit card fraudsters and other criminal activities.

At the time of its forced shutdown in May 2013, the company was found to be operating 5.5 million user accounts, with more than 600,000 in the US alone, and had done around 78 million financial transactions totaling over $8 billion.

According to the press release, four co-defendants, Vladimir Kats, Azzeddine El Amine, Mark Marmilev and Maxim Chukharev, have already pleaded guilty. Marmilev and Chukharev were sentenced to five years and three years in prison, respectively. Charges remain pending against Liberty Reserve and two individual defendants who are fugitives.

For more details, click here

 

Dark Reading's Quick Hits delivers a brief synopsis and summary of the significance of breaking news events. For more information from the original source of the news item, please follow the link provided in this article. View Full Bio
 

Recommended Reading:

Comment  | 
Print  | 
More Insights
Comments
Oldest First  |  Newest First  |  Threaded View
NSA Appoints Rob Joyce as Cyber Director
Dark Reading Staff 1/15/2021
Vulnerability Management Has a Data Problem
Tal Morgenstern, Co-Founder & Chief Product Officer, Vulcan Cyber,  1/14/2021
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Write a Caption, Win an Amazon Gift Card! Click Here
Latest Comment: This is not what I meant by "I would like to share some desk space"
Current Issue
2020: The Year in Security
Download this Tech Digest for a look at the biggest security stories that - so far - have shaped a very strange and stressful year.
Flash Poll
Assessing Cybersecurity Risk in Today's Enterprises
Assessing Cybersecurity Risk in Today's Enterprises
COVID-19 has created a new IT paradigm in the enterprise -- and a new level of cybersecurity risk. This report offers a look at how enterprises are assessing and managing cyber-risk under the new normal.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2021-1067
PUBLISHED: 2021-01-20
NVIDIA SHIELD TV, all versions prior to 8.2.2, contains a vulnerability in the implementation of the RPMB command status, in which an attacker can write to the Write Protect Configuration Block, which may lead to denial of service or escalation of privileges.
CVE-2021-1068
PUBLISHED: 2021-01-20
NVIDIA SHIELD TV, all versions prior to 8.2.2, contains a vulnerability in the NVDEC component, in which an attacker can read from or write to a memory location that is outside the intended boundary of the buffer, which may lead to denial of service or escalation of privileges.
CVE-2021-1069
PUBLISHED: 2021-01-20
NVIDIA SHIELD TV, all versions prior to 8.2.2, contains a vulnerability in the NVHost function, which may lead to abnormal reboot due to a null pointer reference, causing data loss.
CVE-2020-26252
PUBLISHED: 2021-01-20
OpenMage is a community-driven alternative to Magento CE. In OpenMage before versions 19.4.10 and 20.0.6, there is a vulnerability which enables remote code execution. In affected versions an administrator with permission to update product data to be able to store an executable file on the server ...
CVE-2020-26278
PUBLISHED: 2021-01-20
Weave Net is open source software which creates a virtual network that connects Docker containers across multiple hosts and enables their automatic discovery. Weave Net before version 2.8.0 has a vulnerability in which can allow an attacker to take over any host in the cluster. Weave Net is suppli...