sanctions Archives

Treasury Department — (Michelle Lee / Flickr)

Treasury fines virtual currency exchange Bittrex for failing to catch ransomware payments

The virtual currency exchange based in Washington state failed to catch more than 100,000 transactions from sanctioned regions.

Oct 11, 2022 By Tonya Riley

Rep. Jim Himes, D-Conn., said an executive order on spyware is coming. (Photo by Joshua Roberts-Pool/Getty Images)

Alternative payment apps such as AliPay a boon for cybercriminals, experts tell Congress

They pointed to the use of apps such as China-based Alipay and Russia-based Qiwi as a growing problem and a national security threat.

Sep 20, 2022 By Tonya Riley

Mourners at a funeral ceremony in Tehran on Aug. 4 for five members of the Islamic Revolutionary Guard Corps killed during the conflict against the Islamic State group in Syria. (Photo by AFP via Getty Images)

U.S. government takes sweeping action against Iranian hackers accused of ransomware spree

The action from multiple U.S. departments is against 10 Iranians and two Iranian companies related to a spree of breaches and cyberattacks.

Sep 14, 2022 By AJ Vicens

Gladkikh sanctions — The Treasury Department in Washington, D.C., on March 31, 2022. (Photo by STEFANI REYNOLDS/AFP via Getty Images)

Why Tornado Cash sanctions are drawing fierce criticism, potential court challenge from crypto group

Sanctions against the cryptocurrency mixer have ignited concern from industry stakeholders, privacy advocates and legal experts.

Aug 15, 2022 By Tonya Riley

lazarus group — North Korean flags blow outside an apartment building. Lazarus Group, a broad set of suspected North Korean hackers, is behind Operation Sharpshooter, according to McAfee. (Flickr user (stephan))

Cryptocurrency ‘mixers’ see record transactions from sanctioned actors

An increase in funds sent from illicit addresses has accelerated the rise, indicating the technology remains attractive to cyber criminals.

Jul 14, 2022 By Tonya Riley

The Monument to Party Founding is a monument in Pyongyang, the capital of North Korea. (Getty Images)

FBI, CISA, Treasury: North Korean hackers taking aim at health care with Maui ransomware

The ransomware has previously received little public scrutiny.

Jul 6, 2022 By Tim Starks

Treasury sanctions virtual currency mixer Blender for money laundering

Blender was used to launder $20.5 million of the $620 million that the Treasury Department alleges North Korean hackers stole in March.

May 6, 2022 By Suzanne Smalley

St. Basil’s Cathedral (Flickr user thesash2)

In a first, Treasury Department sanctions major cryptocurrency mining firm

Treasury: "By operating vast server farms that sell virtual currency mining capacity internationally, these companies help Russia monetize its natural resources."

Apr 20, 2022 By Tonya Riley

Students of the Pyongyang Jang Chol Gu University of Commerce watch footage on March 25, 2022, of the previous day’s launch of the Hwasong-17 missile — North Korea’s first ICBM test since 2017. (Photo by KIM WON JIN/AFP via Getty Images)

Treasury updates Lazarus Group sanctions with digital currency address linked to Ronin Bridge hack

The address received $600 million in Ethereum and other digital currency during the March attack, crypto-tracking company Chainalysis said.

Apr 14, 2022 By Joe Warminsky

One of Russian oligarch Alisher Usmanov’s prestigious villas on the Costa Smeralda in Sardinia, also affected by the EU’s economic sanctions aimed at countering the conflict in Ukraine on March 20, 2022 in Porto Cervo, Italy. Italian authorities have seized several villas and yachts owned by wealthy Russians targeted by EU sanctions in the wake of Russia’s invasion of Ukraine. (Photo by Contributor#8526142/Getty Images)

A practical reason why crypto might not work for large-scale sanctions evasion

According to crypto-tracking company Chainalysis, the markets probably couldn't handle it without prices tanking.

Apr 13, 2022 By Joe Warminsky