Elliptic calculates amount laundered through the Suex Bitcoin exchange

The analytics firm Elliptic studied transactions of the US-sanctioned Suex exchange and concluded that over $370 million passed through it, linked to cybercrime.

Since 2018, Suex has processed cryptocurrency transactions totaling at least $934 million.

Data: Elliptic.

Across 14 sanctioned Bitcoin wallets, a total of 46,851.07 BTC passed through. Four Ethereum addresses processed transactions totaling 37,782.6 ETH. Seven Tether wallets received more than 396 million USDT in total.

Suex is legally registered in the Czech Republic. The exchange’s offices are in Moscow and Saint Petersburg. The Czech company’s shareholders are Yegor Petukhovsky (also Chatex), Vasiliy Zhabykin (also the neobank NUUM), Maxim Subbotin and Ildar Zakirov. We wrote more about them here.

According to Chainalysis, the exchange also served clients in other regions of Russia and beyond, including the Middle East.

The United States has imposed sanctions on the Suex Bitcoin exchange with offices in Moscow and Saint Petersburg

Co-founder of the U.S.-sanctioned Suex exchange denied illicit activity. However, a ForkLog source on the exchange market said that Suex is one of the largest exchanges in Russia.

Co-founder of the U.S.-sanctioned Suex exchange denied illicit activity

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