sanctions | ForkLog

ForkLog 7 10.04.2024

US Treasury Seeks Expanded Cryptocurrency Oversight

The evolving use of cryptocurrencies for illicit purposes necessitates additional oversight tools for the US Treasury. This was stated by Deputy Secretary Wally Adeyemo during a Senate hearing. The official mentioned a network operated by Al-Qaeda for several years to raise funds in bitcoin via social media, and cryptocurrency donations to Hamas. “It is important […]

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ForkLog 5 09.04.2024

US Treasury Seeks to Regulate Foreign Bitcoin Exchanges

The US Treasury is advocating for an expansion of its powers to enhance oversight of cryptocurrency service providers, including foreign entities. This was stated by Deputy Secretary Adewale O. Adeyemo ahead of Senate hearings. According to him, malicious actors are constantly “seeking new ways to conceal identities and move assets.” He cited instances of cryptocurrencies […]

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ForkLog 9 28.03.2024

US and UK Investigate Garantex Over $20 Billion USDT Transfers

Authorities in the US and UK are investigating USDT transfers amounting to $20 billion through the Russian exchange Garantex. This was reported by Bloomberg, citing informed sources. According to these sources, the investigation is part of efforts to combat sanctions evasion. All stablecoin transactions occurred after April 2022, when Garantex was added to the US […]

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ForkLog 13 25.03.2024

US Imposes Sanctions on Atomyze and Bitpapa Platforms

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) expanded its sanctions list to include Russian platforms for issuing digital financial assets — Atomyze, Lighthouse, and Masterchain. Also added to the SDN list were: P2P marketplace Bitpapa; Crypto Explorer DMCC; blockchain technology developer Web3Tech; “Electronic Payment Processing Center” — operator of the […]

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ForkLog 8 13.03.2024

EU Approves Criminal Penalties for Circumventing Sanctions with Cryptocurrencies

On March 12, Members of the European Parliament approved a directive criminalizing violations and circumvention of EU sanctions. The directive includes standardized and stricter penalties for: refusing to freeze accounts and wallets, as well as conducting transactions with fiat or cryptocurrency assets of sanctioned individuals and companies; concealing the true owner of property and failing […]

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ForkLog 19 21.02.2024

UK Police Seize 200 LockBit Cryptocurrency Wallets

The UK’s National Crime Agency has revealed details of an operation to seize servers belonging to the hacker group LockBit. Authorities have detained two members of the organisation in Poland and Ukraine. They are accused of conducting ransomware attacks and are currently under arrest, with future court appearances in the US pending. Charges have also […]

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ForkLog 9 29.01.2024

Russian Linked to REvil Faces Sanctions from Three Nations

The United States, Australia, and the United Kingdom have imposed sanctions on Russian national Alexander Ermakov, held responsible for the hacking of Australian insurance company Medibank. The U.S. government claims that Ermakov and other participants in the attack are connected to the Russian-backed cybercriminal group REvil. According to OFAC, in October 2022, ransomware operators stole […]

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ForkLog 9 22.01.2024

Coinbase Criticizes US Authorities for Manipulating Cryptocurrency Facts

Coinbase’s Chief Legal Officer, Paul Grewal, expressed criticism towards the US Government Accountability Office (GAO) over a report concerning the use of cryptocurrencies to evade sanctions. Zero comparative analysis performed. Heck, zero analysis whatsoever performed. Instead they harangue an industry that spends millions and millions to follow the law. Ask yourself— why? https://t.co/a7VKV0vKR4 — paulgrewal.eth […]

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ForkLog 16 19.01.2024

Chainalysis Reports Decline in Illicit Crypto Revenues for 2023

In 2023, the volume of illegal revenues from crypto scams and hacks decreased by 29.2% and 54.3%, respectively, according to a report by Chainalysis. For the first year since 2020, illicit transaction volume fell, from $39.6B in 2022 to $24.2B. As always, these figures are estimates based on illicit addresses we’ve identified as of now. […]

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ForkLog 11 26.12.2023

Experts warn of Bitcoin censorship risk

Crypto community members have reported a rise in censorable transactions and warned that Bitcoin miners could face even greater pressure from authorities.

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ForkLog 6 21.12.2023

MEV project on Ethereum began censoring sanctioned transactions

The MEV infrastructure provider bloXroute began rejecting transactions linked to sanctioned wallets on the OFAC list.

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ForkLog 8 19.12.2023

Revolut to ban cryptocurrency purchases for UK business customers

From 3 January 2024, the fintech company Revolut will ban cryptocurrency purchases for UK business customers.

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