The cryptocurrency seizure and sanctions targeting the Prince Group, associates and affiliated businesses mark the most extensive action taken against cybercrime operations in the region to date.

Cybercrime hubs in Southeast Asia scammed Americans out of at least $10 billion last year, a 66% increase from 2023, officials said.

As the sanctions-evading scheme has grown, so too has the U.S. government’s response.

The State Department also announced financial rewards totaling up to $6 million for information leading to the arrest or conviction of Garantex’s leaders.

The Russian cybercrime group attacked more than 180 organizations before members abandoned the brand and dispersed to new ransomware groups earlier this year.

It’s the first formal attribution for the campaign that has swept up data from at least nine telecoms and the Treasury Department. 

The department’s Office of Foreign Assets Control said Guan Tianfeng used a zero-day exploit to deploy malware on 81,000 firewalls.

The mixer was sanctioned after a North Korea hacking group used the software to launder more than $455 million.

North Korea's use of malicious cyber activity to evade international sanctions has become a growing problem for U.S. national security.

A sharp increase in crypto-currency related sanctions resulted in far more crypto transactions being considered illicit.