U.S. Sanctions: Crackdown on Russian Cybercrime Networks

The United States has imposed sanctions on Russian citizen Sergey Sergeevich Ivanov and crypto firm Cryptex, which operates in Russia. Additionally, the U.S. has identified the Russian crypto exchanger PM2BTC as a primary money laundering concern. Rewards are offered for information leading to key arrests.

The United States has imposed sanctions on Sergey Sergeevich Ivanov, a Russian citizen, and Cryptex, a cryptocurrency firm based in Saint Vincent and the Grenadines but operating within Russia, the Treasury Department announced on Thursday. Treasury's Financial Crimes Enforcement Network has also designated the Russian crypto exchanger PM2BTC as a 'primary money laundering concern' due to its involvement in Russian illicit finance.

"The United States and our international partners remain resolute in our commitment to prevent cybercrime facilitators like PM2BTC and Cryptex from operating with impunity," stated Bradley Smith, acting under secretary for Treasury's terrorism and financial intelligence unit. Additionally, the State Department revealed rewards of up to $10 million each for information that could lead to the arrest or conviction of Ivanov and Timur Shakhmametov, who are both implicated in transnational organized crime.

The State Department is also offering rewards up to $1 million each for identifying the leaders of PM2BTC and the stolen credit card marketplaces PinPays and Joker's Stash.

(With inputs from agencies.)