11/8/2021- 9:41 p.m.
Cryptoexchange ‘Chatex’ sanctioned for helping ransomware gangs facilitate transactions
“Analysis of Chatex’s known transactions indicate that over half are directly traced to illicit or high-risk activities such as darknet markets, high-risk exchanges, and ransomware,” the US Treasury Dept. said Monday.
According to BleepingComputer, the crypto exchange is accused of helping ransomware gangs evade sanctions and facilitate cybercrime.
“Unprincipled virtual currency exchanges like Chatex are critical to the profitability of ransomware activities, especially by laundering and cashing out the proceeds for criminals,” the Treasury added.
