SUEX

On September 21st, the U.S government took action against Suex, a Russian cryptocurrency broker. According to the announcement, the sanctions on Suex should eliminate criminal-related activities. Furthermore, the directive came from the Treasury’s Office of Foreign Assets Control (OFAC). The War on Illicit Financing According to the Treasury’s announcement, criminal networks use cryptocurrencies and exchanges to launder money. As per the government, such incidents affect the country’s economy. Essentially, Suex’s services combine illegal ransomware transactions with genuine transfers. So, for…

On Tuesday 21st September, the US treasury announced that it would sanction the SUEX exchange. According to the treasury, SUEX took part in Ransomware activities.  The government has been fighting against such attacks for several years. However, its efforts have been futile due to the lack of international support. US Treasury Sanctions Crypto Exchanges In a public release, the US Treasury recently announced sanctions on SUEX. Comprehensively, the Office of Foreign Assets Control (OFAC) proposed the recent sanctions. The OFAC linked SUEX to eight…