U.S. Treasury sanctions Russian citizen Sergey Ivanov and cryptocurrency exchange Cryptex for aiding cybercrime.

The U.S. Treasury Department has sanctioned Russian citizen Sergey Ivanov and the cryptocurrency exchange Cryptex for aiding cybercrime, particularly money laundering linked to Russian cybercriminals. The Financial Crimes Enforcement Network labeled PM2BTC as a major money laundering concern. The State Department is offering up to $10 million for information leading to the arrests of Ivanov and another implicated individual, Timur Shakhmametov, as part of a broader crackdown on Russian cybercrime.

September 26, 2024
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