In the United States, the Biden administration decided to impose a sanction decision on a cryptocurrency exchange allegedly associated with ransomware.
According to recent media reports, the stock exchange Suex, which is allegedly associated with ransomware actors, will be sanctioned by the US government. The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) claimed that Russia and Czech Republic-based Suex exchange facilitated financial transactions with revenues from at least eight ransomware.
According to OFAC, more than 40% of transactions on the cryptocurrency exchange Suex are related to illegal actors. The Biden government announced last week that it will fight places and people associated with this type of ransomware, and this week the Suex exchange was one of the first transactions of this statement. Biden’s decision was supported by different names in the White House, and in addition to the regulations to be made on crypto money, the importance of protecting the American people from such ransom attacks was emphasized.
According to OFAC, cases of ransomware attacks reported to the FBI increased by 21% between 2019 and 2019 and 2020, with casualties from these attacks increasing by 225%.