US Treasury Dept sanctions crypto OTC broker Suex for alleged role in facilit...
The government agency hinted at possible additional sanctions for "financial institutions, cyber insurance firms, and companies involved in digital forensics and incident response" that facilitated ransomware payments. The United States Department of the Treasury has announced it will impose sanctions on Czech Republic and Russia-based business Suex OTC for allegedly allowing hackers to access cryptocurrency sent as payment for ransomware attacks.In a Sept. 21 advisory update, the Treasury Department Office of Foreign Assets Control, or OFAC, added Suex OTC to its list of Specially....
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The U.S. Treasury Department has blacklisted Suex, a cryptocurrency broker based in Russia, for its money laundering activities. The platform is suspected of processing hundreds of millions of dollars in crypto transactions related to scams, ransomware attacks, darknet markets, and the infamous BTC-e exchange. OFAC Adds Russian Crypto OTC Exchange Suex to Blacklist The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury has added Suex to the Specially Designated Nationals and Blocked Persons (SDN) List. The move, announced Tuesday, effectively prohibits U.S.....
Cryptocurrency addresses allegedly used by Russian exchange Suex, recently placed under U.S. sanctions, have received more than $934 million in crypto assets, blockchain analysis suggests. According to the Treasury Department, over 40% of the platform’s transactions involved criminal actors. A Suex co-founder has denied any illegal activity. Sanctioned Crypto Broker Suex Processed $370 Million of Illicit Crypto Funds, Report Taking steps to counter ransomware attacks, the U.S. Department of the Treasury set its sights on digital asset exchanges this week. As part of the measures,....
The scandal around sanctioned crypto broker Suex is growing in Russia where one of the co-founders of the OTC platform has been dismissed from his executive post at a bank. Meanwhile, an anti-drug organization has referred the case to the interior ministry and the central bank, asking authorities to investigate Suex’s connections with financial companies and a darknet market operating in the region.
Co-Founder of Suex Fired by MTS Bank, Another Quits Job at Chatex
Russian entrepreneur and financial executive Vasily Zhabykin, one of the founders of troubled crypto broker....
The government department hinted that the addresses were added to the list in an effort to stop North Korea from evading sanctions imposed by the United States and United Nations. The United States Treasury Department has added three Ethereum wallet addresses to sanctions allegedly linked to the hacker group responsible for the theft of more than $600 million in crypto from nonfungible token game Axie Infinity’s Ronin sidechain.In a Friday update, the Treasury Department’s Office of Foreign Assets Control, or OFAC, listed three Ethereum addresses to its Specially Designated Nationals....
The U.S. Department of the Treasury says that the growing use of crypto assets challenges the efficacy of American sanctions. “We are mindful of the risk that, if left unchecked, these digital assets and payments systems could harm the efficacy of our sanctions,” the Treasury Department explained. Treasury Says Crypto Threatens Efficacy of U.S. Sanctions The U.S. Department of the Treasury released its 2021 Sanctions Review Monday. “Technological innovations such as digital currencies, alternative payment platforms, and new ways of hiding cross-border transactions all....