Treasury sanctions cryptocurrency exchange to fight ransomware attacks

Share This Post

Share on facebook
Share on linkedin
Share on twitter
Share on email
Biden Praises House Adoption Of $3.5 Trillion Budget Plan

The Treasury Department issued its first sanctions against a cryptocurrency exchange on Tuesday as part of a series of actions targeting the use of digital currencies in ransomware attacks.

Tuesday’s sanctions will block all trades involving the cryptocurrency exchange Suex and US entities. According to the Treasury Department, around 40 percent of all Suex transactions involve illegal activities. The department’s Office of Foreign Assets Control (OFAC) is also issuing a new advisory warning that it may issue new sanctions against cryptocurrency exchanges, cyber insurance companies, and other financial institutions that facilitate ransomware payments.

“Ransomware and cyber-attacks are...

Continue reading…

More To Explore

TLcom and 4DX drive $13.1M seed round to scale Autochek’s platform across Africa

African automotive company Autochek has secured a $13.1 million seed round almost a year after raising $3.4 million pre-seed in November 2020. The company, led by CEO Etop Ikpe, has seen astonishing growth in demand since launching in August last year, not just from a consumer perspective but also from its business and banking partners. […]

Sony Xperia Pro-I is a camera first, 5G phone second

Image: Sony

Sony is ready to throw-down with a new camera-first 5G phone — the Xperia Pro-I — in the battle for smartphone camera supremacy. Less than 12-hours after the Google Pixel 6 and Pixel 6 Pro’s reviews started d…

Ready to take the plunge into the online world?

drop us a line and keep in touch