US Takes Down 2 Exchanges Laundering Russian Cryptocurrency

2 cryptocurrency exchanges were recently taken down by authorities. PM2BTC and Cryptex sites were seized. Now, this is important for 2 reasons. First, it disrupts illegal money laundering, in this case hundreds of millions of dollars that were heading to Russia. These 2 crypto exchanges were on track to move money in excess of a billion dollars to criminal organizations. And second, it showcases how tools to detect and track illicit cryptocurrency activity are becoming more sophisticated. Authorities are getting better at tracking illicit crypto transactions, which helps global law enforcement partners to target offending services. Overall, this is improving the legitimacy and reputation of the cryptocurrency industry, and it keeps the pressure on global criminal activities. If you like interesting cybersecurity news, be sure to like and follow. Matthew Rosenquist.