U.S. Treasury Department Sanctions Bitcoin (BTC) Addresses Linked to Ransomware

U.S. Treasury Department Sanctions Bitcoin (BTC) Addresses Linked to Ransomware


The U.S Treasury Department’s Office of Foreign Assets Control (OFAC) is taking action against a ransomware group targeting individuals and companies in the United States by adding associated persons and their properties to the Specially Designated Nationals and Blocked Persons List (SDN).

In a statement, the Treasury Department says that it is sanctioning the ransomware group affiliated with Iran’s Islamic Revolutionary Guard Corps (IRGC) as part of a collaborative effort with other government departments and agencies to protect Americans from cybercrimes.

The prohibition takes effect as ransomware payments in the United States hit $590 million in 2021, up by over 41% from $416 million in 2020.

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The department says that the group exploits software vulnerabilities to execute ransomware attacks. It is also engaged in other

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