US cryptocurrency exchange sanctions over ransomware likely not the last

Days after the Russia-linked BlackMatter ransomware gang hit an Iowa grain cooperative with a ransomware attack, the Biden administration unveiled its latest effort to address the ongoing ransomware crisis. In a move designed to cut off ransomware gangs from their financial rewards, the Treasury Department announced that its Office of Foreign Asset Control (OFAC) placed Czech Republic-registered but Russian national-owned and -operated cryptocurrency exchange Suex on its sanctioned entity list, formally called the Specially Designated Nationals and Blocked Persons (SDN) List. 

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