U.S. federal agents, in collaboration with Michigan police and international law enforcement, have dismantled E-Note, a cryptocurrency service allegedly used to launder over $70 million from ransomware attacks. The platform, operated by Russian national Mikhail Petrovich Chudnovets, reportedly facilitated the movement of illicit funds across borders and the conversion of cryptocurrency into fiat currency. The FBI has linked E-Note to illegal proceeds from ransomware and account takeovers dating back to 2017. As part of the operation, authorities have seized servers, applications, and websites, along with customer data and transaction records, to aid ongoing investigations. This case underscores the heightened scrutiny on liquidity and crypto markets, with regulators like the EU Markets in Crypto-Assets Regulation intensifying efforts to combat illicit financial activities.