Treasury Department Blacklists More Bitcoin Wallets Tied to Malicious Cyber Attacks

Treasury Department Blacklists More Bitcoin Wallets Tied to Malicious Cyber Attacks
Crypto Security
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The Department of Foreign Asset Control Office (ofac) of the Treasury has sanctioned ten individuals and two entities related to "the conduct of malicious cyber-acts, including ransomware activity", it announced today. 

The sanctioned parties are allegedly associated with Iran’s Islamic Revolutionary Guard Corps (IRGC), a branch of the Iranian Armed Forces. It has been blacklisted by the United States government as a terrorist organization.

“today, ofac, in the context of a government-wide response, has taken action against a group of malicious cyber actors based in Iran that have been compromising networks based in the US and other countries for at least 2020," the ofac said.

Cyber attacks are on the rise around the world.

There has been a recent increase in malicious cyber attacks, requiring government agencies to continue their efforts. Since 2020, this group has been targeting multiple diplomats and representatives of the government, the defence of the United States and the Middle East, and private industries, including energy, business services, media and telecommunications.

OFAC shared that it put on the black list several Bitcoin addresses connected to the IRGC group, which also carried out several ransomware attacks. The portfolios are linked to members of the IRGC, including Ahmed Khatibi Aghada and Amir Hossein Nikaeen Ravari.

The portfolios did not contain a . String data indicates that digital assets were removed in May. One of the accounts associated with the two IRGC members had a total of 2.49 bitcoin.

Not the first Bitcoin rodeo from the Treasury.

This is not the first time that the Treasury has blacklisted or taken other measures against crypto digital wallets and other products associated with illegal activities. 

In May, the agency blocked a cryptocurrency mixing service Blender, which they believe was tied to North Korean hackers who laundered around $20.5 million in the Axie Infinity hack in March.

OFAC’s recent decision to blacklist an Ethereum-based crypto mixer Tornado Cash has gained much attention and criticism. The Department sanctioned the platform alleging “national security issue” and ties to money laundering in August and is already being sued (and crucified by the crypto community) for this move. 

The agency published guidelines allowing Tornado Cash users to withdraw their digital assets, as they were automatically banned from using the service after OFAC put it on the sanctioned list.

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