Cryptocurrency exchanges Bitpapa, TOEP, and Crypto Explore sanctioned

Event Details

The OFAC has sanctioned Bitpapa, TOEP, and Crypto Explorer for their involvement in the financial services sector of the Russian Federation’s economy. Bitpapa IC FZC LLC, is a peer-to-peer virtual currency exchange that caters to Russian nationals and has facilitated millions of dollars in transactions with two OFAC-designated Russian entities, Hydra Market and Garantex. TOEP is a virtual currency exchange that operates as Netexchange and Netex24 that was also sanctioned for enabling digital payments in cryptocurrency and rubles to OFAC-designated entities, including Hydra Market Sberbank, Alfa-Bank, and Hydra Market.

Date

25/03/2024

Event Category

Level of Cooperation

Country

🇺🇸 United States

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