#Cryptocurrency provider sentenced to 121 months#

Recently, the U.S. Department of Justice announced that Anurag Pramod Murarka, an Indian national and international virtual currency exchange operator, was sentenced to 121 months in prison for his role in a money laundering conspiracy. Murarka solicited customers through advertisements on the dark web, using cryptocurrency as a medium to facilitate illicit funds transfers. He laundered over $20 million for criminals involved in hacking and drug trafficking. Murarka operated an international money laundering business, advertising his services on dark web marketplaces and communicating with customers through encrypted messaging to negotiate exchange rates. Customers sent cryptocurrencies to designated addresses, and Murarka delivered cash to U.S.-based employees via Hawala operations in India. Murarka's employee network spanned the U.S. and overseas, where they packaged and mailed cash to customers. Murarka charged fees for his services, using a portion to bribe employees and co-conspirators. He knowingly laundered money for numerous customers involved in criminal activities, helping to conceal the source of illicit activities and facilitating criminal activity.