Argentina arrests Russian citizen in money laundering case linked to North Korea – DL News

TRM Labs reported that Argentine authorities have arrested a Russian national in a money laundering case involving a multi-million dollar company operating out of the South American country.

The Argentine Federal Police seized assets worth millions of dollars in an operation led by the San Isidro Cybercrime Control Unit and with the support of TRM Labs.

The 29-year-old suspect accepted crypto proceeds from illicit actors, including North Korea's Lazarus Group, child sex abuse providers and terrorism financiers, and then exchanged them for laundered crypto and fiat currencies, the report said.

Lead prosecutors and cybercrime experts were able to analyze and explain the complicated web of transactions by tracking different assets across multiple blockchains.

According to a local report, the suspect essentially ran a financial institution from his home in Argentina.

Another local report said the suspect used a Telegram bot to exchange rubles, USDT, euros and dollars into Argentine pesos.

During the arrest, federal police seized over $120,000 worth of cryptocurrencies and another $15 million from assets controlled by the suspect.