US Charges, Arrests Two in $389.74 Million Crypto Laundering Case

US authorities have charged two men with operating a cryptocurrency money-laundering service.

The US Attorney's Office for the Eastern District of Pennsylvania said June 11 that the two Georgia residents were charged with conspiracy to commit money laundering and money laundering.

Prosecutors allege the men ran a crypto laundering service called AudiA6 and processed 10,333 Bitcoin transactions starting in 2021. The laundering volume totaled about $389.74 million.

Investigators said AudiA6 helped conceal the source of criminal proceeds from dark web marketplaces, ransomware groups and cybercrime services, making the funds harder to trace. The operators collected fees of as much as 5% of the laundered amount, according to prosecutors.

Each defendant faces up to 20 years in prison if convicted, prosecutors said.