A gang of online criminals in Russia were using the dark web to sell a huge amount of forged banknotes in exchanges of cryptocurrencies, have been taken in custody recently by the Russian authorities.

Russian news agency Kommersant <a href="https://www.kommersant.ru/doc/4315751" target="_blank" rel="noopener">released</a> a report on April 07, 2020, stating that the criminal organisation detained by the authorities had sold over 1 billion forged Russian rubles, and at present, the worth of those counterfeited note is $13 Million.
<h2>Darknet Network Hydra Used For Selling Banknotes</h2>
According to the Ministry of Internal Affairs of Russia, online criminals were using Hydra, the largest darknet marketplace of Russia, to sell the fabricated currency.

The authorities have mentioned that the criminal organization was operating its activities under the name of “Bank of Russia”. The name was an alternative of Central Bank of the Russian Federation. The authorities also stated that the forged banknotes the criminals were using were of high quality.

A report stated that the criminal group was active for not more than a year, in this time period they sold fake Russian currency for cryptocurrencies only, on the platform. The first case of fake currency was spotted in the Republic of Tatarstan, the culprits have sold the counterfeited money in dozens of regions in Russia.
<h2>Small Batch Sold For 30 Percent Of Its Nominal Value</h2>
On the one hand, the small batch of bogus banknotes was sold for 30 percent of its nominal value and on the other hand, the majority of forged currencies were sold for 10-15 percent.

The Ministry of Internal Affair of Russia has added that for the first time the have noticed this kind of case in the country.

A report further stated that there have been many countries in the world that are facing or have faced the problem of forged money involving cryptocurrency.

Earlier, Portuguese Police and Europol came to know about the operation of selling fictitious banknotes in exchange of Bitcoin. In September 2019, the authorities took the action against the operators and sealed the funds worth around $80,000.

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Darknet Criminals In Russia Trades 13 Million Of Phony Cash For Crypto

A gang of online criminals in Russia were using the dark web to sell a huge amount of forged banknotes in exchanges of cryptocurrencies.

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.

Darknet Criminals In Russia Trades 13 Million Of Phony Cash For Crypto

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