US sanctions cryptocurrency exchange Suex
Event Details
First-ever sanctions against cruptocurrency exchange
The Biden administration on Tuesday imposed sanctions against a cryptocurrency exchange in one of the most direct US efforts yet to cut off revenue for ransomware groups.
The sanctions cut access to US markets for Suex, a cryptocurrency exchange that US officials accused of doing business with hackers behind eight types of ransomware. The Treasury Department also updated its sanctions-related guidance to US businesses to “strongly discourage” firms from paying ransoms to cybercriminals.
Chainalysis said SUEX deposit addresses hosted at large exchanges have received over $160 million in Bitcoin alone from cybercriminals since the brokerage opened in early 2018, including nearly $13 million from ransomware operators including Ryuk, Conti and Maze. Ethereum and Tether are among other cryptoassets SUEX handled.
Date
Ransomware Group
- Ryuk Conti Maze
Event Category
- Cryptocurrency
Level of Cooperation
- National
