Treasury sanctions crypto exchange for facilitating ransomware

US authorities have sanctioned cryptocurrency exchange Chatex, accusing it of facilitating financial transactions for hackers. — REUTERS

As part of a sweeping crackdown on ransomware on Monday, the Biden administration sanctioned a virtual cryptocurrency exchange called Chatex, accusing it of facilitating financial transactions for hackers.

An analysis of Chatex’s known transactions indicates that more than half are "directly traced to illicit or high-risk activities such as darknet markets, high-risk exchanges and ransomware,” according to the US Treasury Department statement.