The Security Service of Ukraine (SBU) has shut down several cryptocurrency exchanges that were being used since the beginning of this year to anonymize transactions, Bleeping Computer reported.
There were over 1,000 fake customers who used those exchanges in order to launder money received from Russian electronic payments processors, including Yandex.Money, Qiwi and Webmoney, the report stated.
There were searches done at five locations in the Pecherskyi, Shevchenkivskyi and Solomianskyi districts of Kyiv, which yielded seizures of computers and server machines, mobile devices, seals and incorporation documents for dummy companies registered in Ukraine which had been used for money laundering, and $37,330 in cash, according to the report.
“Among the clients of cryptocurrency exchanges network were organizers of mass protests on the eve of the Independence Day of Ukraine,” the SBU added, per the report. “They received money to pay for the services of provocateurs using this particular network.”
There was $11 million laundered per month, according to the report.
In other news, crypto tax and accounting software provider TaxBit has raised $130 million in a Series B funding round, according to a press release. The round brings the company to a $1.33 billion valuation.
In the past five months, TaxBit has tripled its headcount and launched a second headquarters in Seattle. It has also deployed services with the IRS and entered into partnerships with several digital asset platforms, the release stated.
“We are living in a time where everything is going digital, including traditional assets,” said TaxBit CEO Austin Woodward in the release. “As we’ve built and deployed modern tax and accounting software tailored to digital assets, it’s become clear that legacy tax information reporting solutions are built on antiquated technology that provides a poor client experience. TaxBit is changing the game by providing clients and their users modern, real-time technology that affords visibility and tax optimization opportunities throughout the year.”
The round was led by IVP and Insight Partners. Other investors included Tiger Global, Paradigm, 9Yards Capital, Sapphire Ventures, Madrona Venture Group and Anthony Pompliano.
The company also had a $100 million Series A earlier this year.
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