Canadian Crypto Payment Processor Cryptomus Allegedly Aids Russia in Sanctions Evasion
Cryptomus, a Canadian-registered financial firm, has been identified as the payment processor for dozens of Russian cryptocurrency exchanges and websites offering cybercrime services to Russian-speaking customers. Investigations reveal Cryptomus's registered address is a virtual office shared with numerous other financial entities, raising concerns about large-scale money laundering and sanctions evasion. Researchers found Cryptomus processed transactions for at least 122 cybercrime services, including those selling stolen accounts, anonymity services, and attack infrastructure. These transactions ultimately linked to accounts in major Russian banks, currently sanctioned by the US and other Western nations. The actual operations of Cryptomus and the legitimacy of its registered address are highly questionable, highlighting the potential for cryptocurrency to facilitate sanctions evasion.