US Treasury puts BTC address linked to ransomware 1

US Treasury puts BTC address linked to ransomware 1

The US Treasury has accept it Iran-linked ransomware group blocks their Bitcoin wallets. In the statement, the bitcoin agency announced that it had also imposed several penalties on more than a dozen individuals associated with the group. The ransomware group is said to have ties to the Islamic Revolutionary Guard Corps, which currently has a base of operations inside Iran. The statement further confirms that two unnamed companies were penalized for their affiliation.

The US Treasury says the gang has been operating since 2020

According to the US Treasury’s full statement, each individual on the sanctions list has had a role to play in the ransomware group’s activities over the years. The statement said that most of the targets are individuals and companies in the United States. The group has been actively targeting individuals in the country since 2020.

Ransomware has spread across the financial markets in the past few years. In this act, remote hackers take over systems belonging to individuals and companies with the final product in exchange for payment to open and re-establish control of the system. Most of these hackers use several digital assets for payment; A typical example is the Bitcoin address of the mentioned group which is tagged.

New Jersey offers $10 million for information on criminals

The US Treasury said some of the targeted groups included a children’s hospital in the country, a city in New Jersey, and a group of companies, among others. The statement also stated that the individuals associated with them were associated with various companies in the United States. With the group and companies now on the sanctions list, Americans are prohibited from interacting or doing anything with them. This also means that the Bitcoin address should not be used anymore, as any guilty party can be prosecuted.

In addition to the penalties, a New Jersey court also filed charges against three people associated with the group. There is also a reward of approximately $10 million for information that will lead to the arrest of the individuals mentioned. This update comes on the back of adding Tornado Cash to the sanctions list. The platform is an Ethereum tool used to erase the movement of funds and is usually used by criminals to crack the source of crime proceeds. Although there are shouts due to the platform being operated under a smart contract, there is an existing fear of money laundering through the platform.

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