FBI Seizes E-Note Exchange Over $70M Ransomware Laundering
U.S. prosecutors allege that since 2017 the virtual currency platform E-Note transferred over $70 million connected to cybercrime, primarily ransomware proceeds, and the FBI has executed a seizure as part of an ongoing criminal investigation. Authorities say the action targets the infrastructure used to launder illicit funds, and documents filed in the probe describe coordination with financial crime units to trace on-chain flows and identify beneficiaries.
The seizure underscores growing enforcement focus on crypto platforms that facilitate money laundering and could increase scrutiny on smaller exchanges and mixers. For users and counterparties, the case highlights counterparty risk and the possibility of asset freezes while legal proceedings unfold. The outcome could shape future regulatory and investigative strategies for tracking ransomware money flows and holding intermediaries accountable.