The US Department of Treasury imposed sanctions against Russian cryptocurrency exchange Suex The US Office of Foreign Assets Control (OFAC) put the address of Russian cryptocurrency exchange Suex on the “sanctions list” in connection with money laundering on the site.
Suex Exchange is registered in Prague, but operates in Russia. The site even has offices in Moscow and St. Petersburg. According to U.S. law enforcement authorities, the exchange is used to launder cryptocurrencies obtained criminally, such as through ransomware attacks, fraud and sales on darknet markets. Suex has also been used to withdraw funds from BTC-e wallets.
OFAC relied on Chainalysis specialists in its investigation. According to analysts, over the past three years, $160 million in bitcoins have been laundered through Suex. In all, about two dozen cryptocurrency addresses are listed.
“The best way to counter ransomware viruses is to destroy their supply chains. We’ve been watching Suex long enough. But agencies such as the Treasury Department and OFAC take a long time to process the necessary paperwork,” said Chainalysis employee Gurvais Grigg.
As a reminder, in April OFAC imposed sanctions on 16 groups and 16 individuals who were allegedly trying to influence the results of the presidential election using cryptocurrencies.