US Treasury Sanctions 2nd Cryptocurrency Exchange, DOJ Seizes $6.1 Million – Regulation Bitcoin News

US Treasury Sanctions 2nd Cryptocurrency Exchange, Seizes $6.1 Million

The U.S. Treasury Department has sanctioned a second cryptocurrency alternate “for facilitating monetary transactions for ransomware actors.” Two ransomware operators have additionally been sanctioned and $6.1 million in funds have been seized.

US Treasury Sanctions Another Cryptocurrency Exchange

The U.S. Department of the Treasury introduced Monday that its Office of Foreign Assets Control (OFAC) has sanctioned ransomware operators and a cryptocurrency alternate.

Crypto alternate Chatex and its related assist community have been sanctioned “for facilitating monetary transactions for ransomware actors,” the Treasury states. “Analysis of Chatex’s recognized transactions point out that over half are instantly traced to illicit or high-risk actions comparable to darknet markets, high-risk exchanges, and ransomware.”

Chatex has direct ties with Suex OTC, the primary crypto alternate sanctioned by the OFAC on Sept. 21, the Treasury famous.

The OFAC additionally sanctioned Ukrainian Yaroslav Vasinskyi and Russian Yevgeniy Polyanin Monday “for his or her half in perpetuating Sodinokibi/Revil ransomware incidents in opposition to the United States.” The Treasury added that the 2 are “a part of a cybercriminal group that has engaged in ransomware actions and acquired greater than $200 million in ransom funds paid in bitcoin and monero.”

The Treasury defined: “All property and pursuits in property of the designated targets which might be topic to U.S. jurisdiction are blocked, and U.S. individuals are usually prohibited from participating in transactions with them. Additionally, any entities 50 p.c or extra owned by a number of designated individuals are additionally blocked.”

The announcement describes:

While most digital foreign money exercise is licit, digital foreign money stays the first mechanism for ransomware funds, and sure unscrupulous digital foreign money exchanges are an vital piece of the ransomware ecosystem.

DOJ Seizes $6.1 Million in Funds Held at FTX Trading

The U.S. Department of Justice (DOJ) independently introduced Monday that it has seized $6.1 million from Polyanin, noting that each Polyanin and Vasinskyi have been “charged with deploying Sodinokibi/Revil ransomware to assault companies and authorities entities within the United States.”

The $6.1 million in funds seized are traceable to alleged ransom funds acquired by Polyanin, the Justice Department mentioned. The funds have been held in an “FTX Trading Limited account” within the title of “Evegnii Igorevich Polianin” and/or “Evgeniy Igorevich Polyanin,” the DOJ’s seizure warrant exhibits.

According to blockchain analytics agency Chainalysis, each people acquired substantial quantities of cryptocurrency. The agency detailed that throughout all sanctioned addresses named:

Polyanin acquired over $11.5 million value of bitcoin and over $2 million value of USDT_ETH, whereas Vasinskyi acquired over $900,000 value of bitcoin.

What do you consider the U.S. Treasury sanctioning one other crypto alternate and seizing $6.1 million? Let us know within the feedback part under.

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