US Sanctions Russian Crypto Broker Suex for Laundering Millions in Illicit Funds
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.....
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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 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....
Assistant Secretary at the Treasury Department Elizabeth Rosenberg said sanctioning crypto mixers could help deter money laundering from entities in Russia, Iran and North Korea. Elizabeth Rosenberg, the assistant secretary for terrorist financing and financial crimes at the United States Department of the Treasury, suggested sanctioning cryptocurrency mixers could help strengthen the government’s response to foreign entities looking to use digital assets for illicit means. In a Tuesday hearing of the Senate Banking Committee, which covered sanctions on Russia, Rosenberg said having the....
The Monetary Authority of Singapore says crypto exchanges in the country must comply with financial sanctions against Russia. The Monetary Exchange of Singapore (MAS), the country’s central bank and financial regulator, reminded all authorized cryptocurrency exchanges in the country to comply with financial sanctions in place toward Russia. This statement comes after research that revealed millions in crypto donations raised by pro-Russia groups in support of the ongoing conflict in Ukraine and increased sanctions on Russia from financial authorities around the world.Singapore’s decision....