US probe against Suex Crypto Exchange for Ransomware Laundering Affiliation
The US treasury department announced a big action against Suiex crypto Exchange because of its involvement in illegal crypto transactions, especially related to Ransomware attacks.
According to the US treasury department, Ransomware attacks are increasing year by year. In this year, Ransomware attacks affected $400 million, which is 4 times over last year.
In the latest notice, the US treasury department claimed that the Suex crypto exchange was involved in many illegal crypto related activities. They helped illicit activity to facilitate transactions for Ransomware related illegal works. And around 40% of the transactions made on the Suex is a part of illicit activities.
“..facilitated transactions involving illicit proceeds from at least eight ransomware variants.” It also claimed over 40% of the exchange’s transaction history has an association with “illicit actors.”
The US treasury department warned any person ( individual or business) to use the Suex crypto exchange, because the exchange is under investigation of illegal activities. And also authorities warned that if anyone found to use the crypto exchange in such a situation, then they will take action against those people also.
Right now, Ransomware attacks are at tremendous levels. Recently one of the ECB officials also raised a question about the illicit use of crypto in illegal use like drug dealing, Ransomware attacks & other Illegal activities on Darknet.
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