Russian National Indicted for Involvement in a Stolen Credit Card Verification Scheme

Federal prosecutors in New York have indicted a Russian national, Denis Gennadievich Kulkov, for running a service to check the status of stolen credit cards. Kulkov is accused of operating Try2Check, a service criminals could use to verify whether stolen credit card numbers were still active and use to set prices for stolen credit card information.

## The Criminal Scheme

Kulkov performed the checks by gaining surreptitious access to an unnamed US company that preauthorizes credit card transactions between card issuers and the point-of-sale machines at a business, according to prosecutors in the Eastern District of New York. Charging 14 cents per card check, Kulkov earned at least $18 million in Bitcoin via Try2Check, a service he founded in 2005. Prosecutors believe he also earned additional funds via other payment systems and used his proceeds to buy a Ferrari and other luxury items.

## The Search for Kulkov and Others

Records obtained by investigators suggest that Kulkov tried to set up systems to convert his cryptocurrency into fiat currency at a rate of $100,000 per month. Kulkov remains at large, and the U.S. State Department has announced a reward of up to $10 million for information leading to his arrest or conviction. According to prosecutors and investigators with the U.S. Secret Service, Kulkov lives in Samara, Russia, a city about 650 miles east of Moscow. The State Department is also offering a separate $1 million reward for information leading to the identification of other key leaders of the Try2Check platform.

## The Growing Threat of Cybercrime

The indictment of Kulkov and his alleged role in the Try2Check operation highlights the growing threat of cybercrime. Stolen credit card data can be bought and sold online on the dark web, fueling a multi-billion-dollar illegal industry. The use of digital assets like Bitcoin also allows criminals to hide their identities and profits.

## Recommendations

To address the increasing threat of cybercrime, countries worldwide need to strengthen their cybersecurity infrastructure and expand their law enforcement capabilities to investigate and prosecute criminal activity on the dark web. Payment systems and credit card companies should also adopt more advanced fraud detection technologies to prevent criminals from exploiting their services. Additionally, individuals can protect themselves from credit card fraud by regularly monitoring their credit card statements and reporting any unauthorized activity immediately.

In conclusion, the indictment of Kulkov for running a service to check the status of stolen credit cards underscores the need for greater vigilance and action against cybercrime. Such measures are necessary to safeguard payment systems, protect financial institutions, and prevent the proliferation of illicit activities on the dark web.

Keyreplaces: Credit Cards, Credit Card Fraud, Cybercrime, Russia, Indictment, Stolen Credit Cards.