The FBI, working with U.S. prosecutors and international law enforcement agencies, has shut down an online cryptocurrency laundering service that played a key role in global cybercrime. The platform, known as E-Note, was used by criminals to move and hide illegal crypto funds. Authorities say the service helped cybercriminals convert stolen digital assets into usable money. The operation marks a major step in disrupting the financial backbone of cybercrime networks.
According to U.S. officials, E-Note was active for several years and processed more than $70 million in illicit transactions since around 2017. The funds were linked to ransomware attacks, account breaches, and other cyber-enabled crimes. Many of these attacks targeted organizations in the United States, including critical sectors. Law enforcement believes E-Note played a central role in helping criminals cash out stolen cryptocurrency.
The U.S. Department of Justice unsealed an indictment charging Mykhalio Petrovich Chudnovets, a 39-year-old Russian national, with conspiracy to launder monetary instruments. Prosecutors allege that Chudnovets operated and controlled the E-Note service. The charge carries a maximum sentence of 20 years in federal prison if he is convicted. Authorities stressed that the case is still ongoing.
Investigators say Chudnovets began offering money-laundering services as early as 2010, long before cryptocurrency became widely used. Over time, these services evolved into a more structured online operation. By 2017, E-Note had become a full-scale platform designed to move large volumes of illegal funds. The service allegedly helped criminals avoid detection while transferring money across borders.
As part of the operation, law enforcement seized E-Note’s servers, mobile applications, and multiple websites connected to the service. Officials also obtained copies of historical customer databases and transaction records. These records are expected to help investigators trace criminal funds and identify additional individuals involved. The seized data may also assist in future prosecutions.
The takedown was carried out through close cooperation between U.S. and international agencies. Partners included the FBI’s Detroit Cyber Task Force, the Michigan State Police Cyber Command Center, Germany’s Federal Criminal Police Office, and Finland’s National Bureau of Investigation. Authorities said this level of cooperation was essential due to the cross-border nature of cybercrime. The operation highlights the importance of global coordination.
Officials explained that services like E-Note enable cybercrime by making illegal activity profitable. By offering a way to convert stolen cryptocurrency into cash, these platforms encourage more ransomware attacks and digital theft. Disrupting such services reduces criminals’ ability to benefit financially. Law enforcement agencies are increasingly focusing on these financial enablers.
Authorities emphasized that an indictment is only an allegation and that the accused is presumed innocent until proven guilty. However, the takedown sends a strong warning to cybercriminals and money launderers. The FBI stated that targeting the financial infrastructure behind cybercrime is a key priority. Investigators believe this action will have long-term impact on cybercriminal operations.
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