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US Sanctions Cryptocurrency Exchange SUEX for Aiding Ransomware Gangs

US Sanctions Cryptocurrency Exchange SUEX for Aiding Ransomware Gangs

Sep 22, 2021
The U.S. Treasury Department on Tuesday imposed sanctions on Russian cryptocurrency exchange Suex for helping facilitate and launder transactions from at least eight ransomware variants as part of the government's efforts to crack down on a surge in ransomware incidents and make it difficult for bad actors to profit from such attacks using digital currencies. "Virtual currency exchanges such as SUEX are critical to the profitability of ransomware attacks, which help fund additional cybercriminal activity," the department  said  in a press release. "Analysis of known SUEX transactions shows that over 40% of SUEX's known transaction history is associated with illicit actors. SUEX is being designated pursuant to  Executive Order 13694 , as amended, for providing material support to the threat posed by criminal ransomware actors." According to blockchain analytics firm  Chainalysis , SUEX is legally registered in the Czech Republic and operates out of office...
U.S. Sanctions Garantex and Grinex Over $100M in Ransomware-Linked Illicit Crypto Transactions

U.S. Sanctions Garantex and Grinex Over $100M in Ransomware-Linked Illicit Crypto Transactions

Aug 15, 2025 Cryptocurrency / Financial Crime
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) on Thursday renewed sanctions against Russian cryptocurrency exchange platform Garantex for facilitating ransomware actors and other cybercriminals by processing more than $100 million in transactions linked to illicit activities since 2019. The Treasury said it's also imposing sanctions on Garantex's successor, Grinex , as well as three executives of Garantex and six associated companies in Russia and the Kyrgyz Republic that have enabled these activities - Sergey Mendeleev (Co-founder) Aleksandr Mira Serda (Co-founder) Pavel Karavatsky (Co-founder) Independent Decentralized Finance Smartbank and Ecosystem (InDeFi Bank) Exved Old Vector A7 LLC A71 LLC A7 Agent LLC "Digital assets play a crucial role in global innovation and economic development, and the United States will not tolerate abuse of this industry to support cybercrime and sanctions evasion," said Under Secretar...
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