US sanctions cryptocurrency exchange in which customers were extorted

This is the first time the Treasury Department has sanctioned a digital currency buying and selling page for computer hijacking. The Treasury said an analysis of known Suex transactions shows more than 40% of them involved illegal actors.

“Markets like Suex are critical to the ability of attackers to profit from ransomware”Under Secretary of the Treasury Wally Adeyemo said on a conference call with reporters Monday evening.

Hackers use ransomware to take down the systems that control everything from hospital billing to manufacturing. They only stop after receiving large payments, usually in cryptocurrencies.

This year, ransomware gangs have targeted many large US companies in large-scale hacks.

One of the attacks on the Colonial Pipeline pipeline operator caused a temporary fuel shortage on the east coast of the United States. Hackers also targeted an Iowa farming business, raising concerns that the grain harvest in the Midwest could be disrupted.

“In 2020, ransomware payments reached over $ 400 million, more than four times those of 2019”Anne Neuberger, deputy national security adviser for cybernetics, told reporters.

“Malicious cryptocurrency markets have long been key catalysts for ransomware gangs,” said Tom Robinson, chief scientist and co-founder of blockchain analytics firm Elliptic in an emailed statement.