The United States Department of the Treasury sanctioned the “Suex OTC cryptocurrency exchange portal” since it has accepted the execution of financial transactions with capital derived from programs dedicated to the theft and rescue of data or “ransomware”.

According to the government entity, “more than 40 % of the activity registered in Suex is linked to illicit acts,” for which it was “designated as a provider of material support to criminals.” This was disseminated through a official statement from the US government. The Treasury Department noted that the company admitted cryptos derived from “eight types of ransomware,” approximately, during the years it has been in operation.

It is the first time that a cryptocurrency exchange has been sanctioned for such reasons and the consequences of the measure entail actions that are related to “the blocking of all its properties and interests in the United States, in addition to the prohibition of US citizens to carry out transactions with the company.”

The Secretary of the Treasury, Janet Yellen, highlighted “cybercriminals use increasingly sophisticated methods and technology; thus, we will also use all our tools, including sanctions and regulations to prevent, discourage and prosecute ‘ransomware’ attacks“.

Hackers usually collect their scams or information theft with the different cryptocurrencies that circulate in the market and then attend portals of this type where they exchange their cryptos for fiat money, which leads to money laundering.

M. Rodríguez

Source: swissinfo.ch

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