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Oleg Korniev pleaded guilty to helping run an international money-laundering operation that recruited more than 15,000 U.S.-based money mules, according to the U.S. Department of Justice (DOJ). The organization, called Your Mule Cashout (YMCO), moved money stolen by hackers from U.S. businesses through personal bank accounts and onward to overseas recipients. Korniev has not yet been sentenced.
How the alleged money-mule operation worked
DOJ says hackers stole money from U.S. companies’ bank accounts and used YMCO to disguise the theft and move the proceeds outside the United States, primarily to Eastern Europe. In return, the organization received a percentage of the stolen money.
YMCO recruited U.S. residents by presenting the transfers as legitimate business work. Recruits were told to receive payments in their personal bank accounts, withdraw the funds, and wire them to supposed overseas company partners. According to DOJ, the money was actually stolen proceeds routed to other YMCO conspirators, and the recruits were not paid.
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The FBI’s Internet Crime Complaint Center (IC3) defines a money mule as “someone who transfers money illegally on behalf of others.” Its broader guidance describes schemes that use purported job opportunities or online relationships to persuade people to move money. That general context does not establish the specific messages or methods used to recruit people into YMCO. FBI/IC3 money-mule advisory
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What the figures mean
The DOJ announcement reports several different measures. They describe different things and should not be treated as interchangeable.
| Measure | What DOJ reported |
|---|---|
| Mules recruited | More than 15,000 U.S.-based people recruited by YMCO |
| Organization-wide thefts | At least $10 million stolen by hackers from more than 750 U.S. bank accounts and laundered through the organization |
| Confirmed-victim losses | More than $14.7 million in actual and intended losses attributed to YMCO in Korniev’s plea |
| Korniev’s intended laundering | More than $9.7 million |
| Korniev’s admitted laundering | At least $7 million |
These figures are from the DOJ’s account of court documents. The announcement does not provide a full accounting of individual victims or a detailed reconciliation of the amounts. DOJ announcement, October 8, 2026
What Korniev pleaded guilty to—and what happens next
DOJ says Korniev, 42, a dual citizen of Ukraine and Russia, pleaded guilty to conspiracy to commit money laundering, money laundering, conspiracy to commit computer fraud, conspiracy to commit access device theft, and aggravated identity theft. The announcement says the applicable prison term ranges from a minimum of two years to a maximum of 50 years. That range is not a sentence: a federal district judge will determine the penalty after considering the U.S. Sentencing Guidelines and other factors. DOJ says sentencing will be set later.
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The announcement also says four other YMCO participants were arrested overseas, extradited to the Western District of North Carolina, and pleaded guilty to money-laundering conspiracy. Their sentences ranged from about 37 to 63 months, and each was ordered to pay more than $9.1 million in restitution to numerous U.S. victims. DOJ did not name those four participants in its announcement.
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How to respond to a suspicious request to move money
A request to receive money into a personal account, withdraw it, and send it elsewhere can expose the account holder to a money-mule scheme. The FBI/IC3 advises people to:
- Never send money to someone you met online.
- Do not share bank or identity information without a verified need.
- Contact your financial institution immediately if you notice a suspicious transfer.
- Report suspected activity to IC3 and to the website where the contact originated.
These are general FBI/IC3 precautions, not a claim about the exact recruitment communications in the YMCO case. FBI/IC3 advisory and reporting guidance
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the case establishes
The DOJ announcement describes a large cross-border laundering operation that used deceptive work-like payment instructions to recruit people to move hackers’ stolen money. Korniev’s guilty plea is established; his sentence is not. The announcement is an official summary of the case, not the full underlying court record.
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