From Dirty Crypto to Clean Money – The Laundering Playbook of Russophone Cybercriminals

This analysis examines how Russian-speaking cybercriminals convert illicit crypto into spendable funds, from accessible obfuscation and cashout services (mixers, chain-hopping, OTC brokers, courier cash delivery; 44 services active on top forums) to the far riskier “legalization” phase using shell companies, front businesses, real estate, casinos, and NFTs. It highlights operational exposure (e.g., infostealer logs leaking illicit exchange credentials), notes law-enforcement pressure on groups like LockBit and Black Basta, and uses case studies of their suspected administrators to illustrate that while cleaning and cashout are commoditized, income legalization remains the key vulnerability and choke point.