Featured Image Credit: U.S. Dept. of Justice
Topics: Cryptocurrency, Russia, Bitcoin, Crime, US News, World News
Ellie Kemp
Topics: Cryptocurrency, Russia, Bitcoin, Crime, US News, World News
A Russian conman who made $18 million in cryptocurrency by running an illegal 'card checking' site has managed to evade authorities for almost two years.
The US Secret Service is determined to track him down, offering up their biggest ever monetary reward for information leading to his arrest or conviction.
Denis Kulkov made off with millions in Bitcoin and 'an unknown amount through other payment systems' by running his fraudulent credit card checking site, Try2Check.
Kulkov charged 14 cents per check, and splashed out on luxury items including a Ferrari with his earnings.
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He even tried to set up systems to convert his cryptocurrency into 'fiat currency' - a government-issued currency not backed by a physical commodity like gold or silver - at a rate of $100,000 a month, investigator documents revealed.
Launched in 2005, Try2Check allowed criminals to run batches of stolen card details and 'determine which stolen card numbers remained active' before selling the data on to other fraudsters.
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The platform - which shut down after a warrant for Kulkov's arrest was issued in April 2023 - ran tens of millions of credit card 'checks' per year, including more than 16 million in a nine-month period in 2018.
The Secret Service said the illegal platform not only victimized 'card issuers and holders' but also 'major US-based payment processing company whose systems Try2Check misused to perform the card checks.'
The fraudster is yet to be apprehended, having managed to dodge the Secret Service for almost two years ago now.
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Kulkov - who also went by Kreenjo, Nordex and Nordexin - was charged with access device fraud, computer intrusion, and money laundering, according to his arrest warrant issued in the Eastern District of New York.
Kulkov was linked to an address in Samara, Russia, around 670 miles north-east of Moscow.
The U.S. Department of State is offering a reward of up to $10 million for 'information leading to Kulkov's arrest and/or conviction'.
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A separate reward of up to $1 million has also been put forward for information leading to the identification of other key leaders of the Try2Check platform.
The Secret Service said: "If you have information, please contact the US Secret Service via email at [email protected].
"If you are located outside of the United States, you can visit the nearest US Embassy or Consulate. If you are in the United States, you can contact the local U.S. Secret Service office in your city."