$6.1 Million Seized As US Treasury Sanctions Another Crypto Exchange

The U.S. Treasury Department has sanctioned another #cryptocurrency exchange “for facilitating financial transactions for ransomware actors.” #bitcoin https://t.co/M7rGMlVuH1

— Bitcoin News (@BTCTN) November 9, 2021

The Treasury Department mentioned that the two individuals were “part of a cybercriminal group that has engaged in ransomware activities and received more than $200 million in ransom payments paid in bitcoin and monero.”

“All property and interests in property of the designated targets that are subject to US jurisdiction are blocked, and US persons are generally prohibited from engaging in transactions with them. Additionally, any entities 50 percent or more owned by one or more designated persons are also blocked”, as explained by the Treasury Department.

The seizure of $6.1 million was separately announced by the US Department of Justice on Monday, where Polyanin and Vasinskyi were “charged with deploying Sodinokibi/Revil ransomware to attack businesses and government entities in the United States.”

The DOJ also mentioned that the seized amount is traceable to ransomware funding that was delivered to Polyanin. According to the warrant, the funds were found to be kept in an “FTX Trading Limited” account in the name of “Evegnii Igorevich Polianin”.

Suggested read: Dutch Authorities Seize $29 Million in Cryptocurrencies After Money Laundering Investigation