Sanctions Imposed: US Government Takes Aim at Russian Nationals’ Crypto Wallets Linked to LockBit Ransomware
The US government is taking action against crypto wallets associated. With two Russian nationals believed to be tied to the LockBit ransomware group.
The Treasury Department’s Office of Foreign Assets Control (OFAC) has sanctioned numerous Bitcoin (BTC) and Ethereum (ETH) wallets connected to the group following an attack on the Industrial and Commercial Bank of China’s (ICBC) US broker-dealer. Disrupting the settlement of over $9 billion in assets backed by Treasury securities.
The wallets belonging to Ivan Gennadievich Kondratiev and Artur Sungatov will be blocked within the United States. LockBit, known for its ransom-as-a-service model. Exfiltrates data before encrypting victim systems. Demanding ransom payments. Deputy Secretary of the Treasury Wally Adeyemo asserts that the US will use all available tools to combat such cyber threats and hold accountable those who facilitate them.
Clever Robot News Desk 22nd February 2024
