EddieJayonCrypto
22 Feb 24
The US Treasury Department has sanctioned two individuals linked to the Russian ransomware group responsible for stealing $9 billion in assets from a US broker-dealer, with the LockBit software contributing to the rise in ransomware attacks in 2023. Artur Sungatov and Ivan Kondratiev have been added...
The US Treasury Department has sanctioned two individuals linked to the Russian ransomware group responsible for stealing $9 billion in assets from a US broker-dealer, with the LockBit software contributing to the rise in ransomware attacks in 2023. Artur Sungatov and Ivan Kondratiev have been added to the OFAC's registry of specially designated individuals, with the Treasury also blacklisting their crypto addresses and warning Russia to take steps to prevent terrorist financing operations. Chainalysis reported a significant increase in ransomware attacks in 2023, with over 583 new ransomware variants confirmed, and the growth of initial access brokers has made it easier for bad actors to conduct ransomware attacks. The US added Russian nationals Artur Sungatov and Ivan Kondratiev to the Office of Foreign Assets Control’s (OFAC) registry of specially designated individuals. The Treasury Department has also blacklisted ten crypto addresses belonging to the individuals, meaning US companies and citizens may not transact with them. All properties belonging to the Russians must be reported to the US Treasury Department. The latest sanctions are part of the US Treasury’s ongoing effort to crack down on terrorist financing. The US government has warned Russia to prevent terrorist financing operations, and the growth of initial access brokers has made it easier for bad actors to conduct ransomware attacks.
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