Sanction News

Analysts at TRM Labs say Russian-speaking ransomware groups accounted for nearly 70% of all crypto proceeds from ransomware in 2023. Russia has seemingly become the center for ransomware-related threat actors in 2023 Russian-speaking ransomware groups accounted for nearly 70% of…

Nearly 30% of all crypto traced from illicit addresses since 2019 ended up at sanctioned services like Russia’s crypto exchange Garantex, according to Chainalysis. Cryptocurrency exchanges have received nearly $100 billion worth of crypto from well-known illicit addresses since 2019,…

Russia’s Ministry of Finance is reportedly working on allowing stock exchanges to open crypto trades, but restrict access to a limited group of “highly qualified” investors. Russia‘s Ministry of Finance, also known as Minfin, is exploring measures to permit crypto…

Russia’s sanctioned business association considers a national Bitcoin fund to enhance the use of digital financial assets in foreign trade. The Russian Union of Industrialists and Entrepreneurs (RSPP), a sanctioned Russian union representing the country’s wealthiest business figures, is considering…

The European Council has unveiled a 14th package of sanctions, targeting crypto providers established outside of Europe that support Russia’s defence-industrial base. European leaders have adopted another package of sanctions designed to target “high-value sectors of the Russian economy, like…

Supporters of Sweden’s largest neo-Nazi group donated crypto via centralized exchanges and mining pools, blockchain investigators say. The Nordic Resistance Movement, the largest neo-Nazi group in Sweden which was sanctioned by the U.S. Department of the Treasury’s Office of Foreign…

The U.S. Treasury has sanctioned a Russian national working at Polyus, Russia’s largest state-owned gold producer for being involved in a complex crypto laundering scheme. The U.S. Department of Treasury on Jan. 12 announced another package of sanctions against 300…

Russia’s crypto mining equipment supplier Intelion is reportedly considering an investment of over $130 million to develop AI data centers. Moscow-headquartered crypto mining supplier Intelion is planning to spend up to 12 billion Russian rubles (over $130 million) on purchasing…

Blockchain forensics firm Chainalysis has discovered $169 million in Bitcoin connected to the 911 S5 botnet, facilitating the arrest of Chinese national Yunhe Wang. Crypto analysis firm Chainalysis has traced $169 million in Bitcoin linked to the notorious 911 S5…

Russia’s two largest unsanctioned metal producers have reportedly begun using Tether’s USDT stablecoin for cross-border transactions with Chinese clients and suppliers. Russian commodities giants have reportedly started using stablecoins to settle cross-border transactions with China as the U.S. Treasury Department…

Treasury’s OFAC has sanctioned the Russian developer of LockBit, who transferred crypto to various illicit services, including sanctioned Russian exchange Garantex, Chainalysis says. Dmitry Khoroshev, a Russian developer of the ransomware program called LockBit which has been recently sanctioned by…

Blockchain forensics firm Chainalysis says ransomware attacks involving payments decreased by 46% in 2023. As the ransomware market becomes increasingly saturated with new schemes due to lower barriers-to-entry, executing profitable attacks involving crypto payments has become a challenging thing, according…

Stablecoin issuer Tether has announced a partnership with blockchain forensics firm Chainalysis to develop a tool for monitoring secondary market activity. Tether is planning to enhance its oversight of the USDT market, as the firm has signed a partnership agreement…

The U.S. Department of the Treasury’s OFAC has sanctioned a Russian one-way attack UAV developer, which solicited donations in crypto on Telegram. The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on May 1 sanctioned nearly 300…

Russia is not planning to outlaw crypto turnover in the country, an official said, emphasizing the need for accurate reporting over sensational headlines. Russian lawmaker Anton Gorelkin, who serves as the deputy chairman of the State Duma Committee on Information…

Venezuela’s state-run oil company PDVSA is allegedly set to increase crypto usage in its crude and fuel exports as the U.S. strengthens oil sanctions against the country. Venezuela‘s PDVSA, the world’s fifth largest oil exporter, is turning to stablecoin Tether…