Canada Fines Cybercrime Friendly Cryptomus $176M

According to FINTRAC, Canada fined Cryptomus, the digital payments platform operated by Xeltox Enterprises Ltd, $176,960,190 for violations of anti-money-laundering laws. On 16 October 2025, FINTRAC imposed the penalty, noting that Cryptomus failed to submit suspicious transaction reports in cases involving suspected proceeds from trafficking in child sexual abuse material, fraud, ransomware payments and sanctions evasion.

The regulator said the violations were connected to those activities, which helped justify the unprecedented enforcement action. Cryptomus is described as a payments platform that supports dozens of Russian cryptocurrency exchanges and websites hawking cybercrime services. Sarah Paquet, director and CEO at FINTRAC, characterised the action as compelled by numerous violations related to those crimes.