It was recently announced that the US Department of the Treasury’s Office of Foreign Assets Control (Ofac) has sanctioned the Czechia-based Suex cryptocurrency exchange for its involvement in ransomware operations.

Indeed, it was stated that over 40% of Suex’s known transaction history was associated with illicit actors and has helped ransomware attacks. It has then to be held accountable in order to reduce the incentive to conduct these kinds of attacks.

The US Treasury is ready to impose a range of measures and regulations in order to prevent ransomware attacks, especially with virtual currencies. The virtual currency industry plays a critical role in implementing appropriate anti-money laundering/combating the financing of terrorism and sanctions controls so as to prevent illicit actors from exploiting virtual currencies to undermine US foreign policy and national security interests.

Hence, it is vital that all property and property interests of Suex are subject to US jurisdiction, and to forbid US citizens from engaging in transactions with them. Moreover, the US Treasury prevents financial institutions and other people to engage in transactions or activities with Suex.