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Indicted Russians Used Paypal and Cryptocurrency exchange, DOJ Indictment says

Feb 18, 2018 Posted /  6196 Views

Indicted Russians Used Paypal and Cryptocurrency exchange, DOJ Indictment says

According to the indictment, Russian individuals are accused by Federal Grand Jury for committing a legal crime of interfering and misleading people of US in 2016 presidential elections.

In an ongoing investigation of a special member of counseling, Robert Mueller discovered the involvement of thirteen Russian individuals and three groups intentionally promoting the misleading campaign through Facebook and Twitter.

To accomplish their motive, the Russian contrivers stole necessary information like social security number, house address etc. from U.S. citizens. They even bought a bogus driving license and other identification documents.  These details were required to create a fake PayPal account and to conduct cryptocurrency exchange. The virtual token is not specified yet.

Reportedly,  in an interview the indictment said-

"In order to maintain their accounts at PayPal and elsewhere, including online cryptocurrency exchanges, Defendants and their co-conspirators purchased and obtained false identification documents, including fake U.S. driver's licenses," the indictment said.

Further, the indictment told that the PayPal account was used for payment of advertisement on Facebook. With the help of fake accounts, misleading information was circulated. In addition to it, crooks used the anonymous feature of Bitcoin account to conduct trading of banned goods.
On the above-stated incident, PayPal commented that they operate within the law and strictly against the illicit use of their platform. They also cooperated with law officials while investigating to stop illegitimate activities.

Bitcoin is the most renowned cryptocurrency in dark web used by cyber criminals for illegal trading. As per CNBC reports, crooks have found that Bitcoin is comparatively more traceable than they expected and because of this, they are looking for an alternative virtual token to continue their operations with less risk of getting caught. Whereas Financial authorities are taking desirable actions to prevent utilization of virtual tokens in illegitimate activities.

In the Indictment’s investigation of, another case came forward of Richard Pinedo. He is the founder of an online service portal  "Auction Essistance" where services regarding evasion of the security system of an online digital portal were provided. Pinedo also dealt in bank account numbers and stolen identities. As per reports, Pinedo affected hundreds of bank accounts and made thousands of dollars by conducting these operations.  

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Tags: paypal cryptocurrency fake Auction Essistance Pinedo

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