How a Russian National Allegedly Used Tether to Launder $530M in Crypto

July 17, 2025

, By Cointelegraph

Blockchain

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Key takeaways

Iurii Gugnin allegedly used his crypto firm to move $530 million through US banks and crypto exchanges using Tether (USDT), facilitating payments for Russian clients tied to sanctioned banks.
Gugnin allegedly failed to implement AML regulations and didn’t file suspicious activity reports (SARs), violating the Bank Secrecy Act and misleading financial institutions.
Gugnin also reportedly accessed websites that provided information on indicators of criminal investigation and methods for detecting law enforcement surveillance.
Gugnin faces…

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Cointelegraph

How a Russian National Allegedly Used Tether to Launder $530M in Crypto

July 17, 2025

, Published By Cointelegraph

Blockchain

Key takeaways

Iurii Gugnin allegedly used his crypto firm to move $530 million through US banks and crypto exchanges using Tether (USDT), facilitating payments for Russian clients tied to sanctioned banks.
Gugnin allegedly failed to implement AML regulations and didn’t file suspicious activity reports (SARs), violating the Bank Secrecy Act and misleading financial institutions.
Gugnin also reportedly accessed websites that provided information on indicators of criminal investigation and methods for detecting law enforcement surveillance.
Gugnin faces…

Source link