Behind the crypto broker accused of enabling ransomware hackers

A physical imitation of a Bitcoin at a cryptocurrency 'Bitcoin Change' shop in Istanbul. The United States imposed sanctions on cryptocurrency exchange Suex for its ties to ransomware attackers, as Washington seeks to crack down on digital crime. — AFP

A cryptocurrency broker that the Biden administration considers a key cog in the recent ransomware epidemic is legally registered in the Czech Republic but doesn’t appear to have an office there. It may be operating out of Moscow’s tallest skyscraper despite its not being listed at the address.

It earned the distinction last month of being the first crypto exchange to be blacklisted by the US as governments try to stem further attacks. And while it denies any part in the recent spate of cyber crimes, experts say it’s a prime example of a shadowy corner of the industry that has allowed hackers to thrive by giving them the means to launder millions of dollars in illicit digital proceeds through “nested” middlemen that tap larger exchanges to process transactions.

Subscribe now for a chance to win your dream holiday!

Monthly Plan


Annual Plan


Billed as RM148.00/year

1 month

Free Trial

For new subscribers only

Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Tech News

Visa prevented $40 billion worth of fraudulent transactions in 2023- official
Meta unveils biggest Llama 3 AI model, touting language and math gains
US, European regulators sign joint statement on effective AI competition
Italy seizes $131 million from Amazon over alleged tax, labour offences
Samsung Elec talks with union end without result, union says
Comcast misses quarterly revenue estimates on weak studio, theme park business
GM slams brakes on self-driving vehicle without steering wheel
Spotify reports record quarterly earnings, shares jump 14% in premarket trade
Neuralink's value jump leaves some Musk employees itching to cash out
US spot ether ETFs make market debut in another win for crypto industry

Others Also Read