Digital asset group Suex sanctioned for allegedly handling illicit proceeds from at least eight ransomware attacks
Washington — The Biden administration on Tuesday unveiled sanctions against a cryptocurrency exchange over its alleged role in enabling illegal payments from ransomware attacks, officials said, part of a broader crackdown on the growing threat.
Hackers use ransomware to take down systems that control everything from harbours to manufacturing. They stop only after receiving hefty payments, typically in cryptocurrency. The threat has grown so prominent that US President Joe Biden reportedly told Russian President Vladimir Putin during a July meeting that “critical infrastructure” companies should be off limits to ransomware gangs. Such groups often operate from Russia or Ukraine, according to cybersecurity experts and federal prosecutors.
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