The U.S. Department of Justice (DOJ) has unsealed an indictment against two high-profile figures: Timur Kamilevich Shakhmametov, the alleged proprietor of Joker’s Stash, a notorious online market for stolen payment cards, and Sergey Sergeevich Ivanov, also known as Taleon, a top Russian cybercriminal known for his role in money laundering networks.

The Alleged Proprietor of Joker’s Stash

Shakhmametov, a 38-year-old man from Novosibirsk, Russia, is accused of operating Joker’s Stash since its inception in late 2014. The cybercrime store was notorious for selling tens of millions of stolen payment cards stolen from major retailers such as Saks Fifth Avenue, Hilton Hotels, and Chipotle. Shakhmametov, also known by his early alias “v1pee” and later “Vega,” had a long history in the Russian hacking community.

The History of Joker’s Stash

Joker’s Stash distinguished itself by catering to high-roller customers, offering loyalty programs, frequent buyer discounts, and money-back guarantees. The store was known for selling freshly stolen payment cards to street gangs in the United States, who would purchase thousands of cards at a time. According to the DOJ, Joker’s Stash earned revenues of at least $280 million but possibly more than $1 billion through its illicit activities.

The Alleged Money Launderer

In addition to Shakhmametov, the DOJ has also indicted and sanctioned Sergey Sergeevich Ivanov, a 44-year-old man from Saint Petersburg, Russia, for his alleged role in money laundering schemes. Ivanov is also known as Taleon, who allegedly used his cryptocurrency exchange Cryptex to launder hundreds of millions of dollars’ worth of virtual currency for various cybercrime groups over the past 20 years.

The Impact on Cryptex

Cryptex has emerged as a major player in the Russian cybercrime scene, with ties to prominent darknet marketplaces and ransomware transactions. The U.S. government has sanctioned PM2BTC, a cryptocurrency exchange that partnered with Taleon and his associates to facilitate money laundering. Experts warn that sanctions against Cryptex will have a significant impact on the cryptocurrency exchange and its customers.

Expert Analysis

“Whenever an entity is sanctioned, the implications on-chain are immense,” said Rich Sanders, a blockchain analyst and investigator for Hold Security. “Exchanges will pay attention to these sanctions, and this action should be a wake-up call for other exchanges that know full well that most of their volume is problematic.”