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Ransomware Crypto Exchanges

BakerHostetler

Deeper Dive: Understanding the 2023-24 Crypto Threat Landscape

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As the Web3 and digital assets ecosystem continues to grow, hacks, scams and other threats remain a major cause for concern and a potential impediment to broader adoption. Data from various sources indicates that after a year...more

BakerHostetler

Crypto Products Launch; Bitcoin Ordinals Project Sells Out; U.S. EIA to Survey Miners; OFAC and DOJ Announce Crypto Actions;...

BakerHostetler on

New Crypto Indices Launch; Crypto Firms Announce Product Integrations - According to a recent press release, SIX, a major Swiss stock exchange and global financial information provider, has launched new SIX Reference Rate...more

Lowenstein Sandler LLP

Trade Matters - Lowenstein Sandler's Global Trade & National Security Newsletter - August 2022

1. FinCEN and BIS Target Financial Institutions for Export Compliance- On June 28, the Financial Crimes Enforcement Network (FinCEN) and the Bureau of Industry and Security (BIS) issued their first joint alert urging...more

The Volkov Law Group

Ransomware and OFAC Sanctions Compliance

The Volkov Law Group on

We have all read about the high-profile malicious cyber-attacks and ransomware demands and payments.  The Colonial Pipeline case demonstrated how responsive law enforcement can be in tracking down perpetrators and recovering...more

Torres Trade Law, PLLC

Crypto Crackdown: OFAC Sanctions SUEX Cryptocurrency Exchange

Torres Trade Law, PLLC on

On September 21, 2021, in a first-of-it-kind action, the U.S. Department of the Treasury Office of Foreign Assets Control (“OFAC”) imposed economic sanctions on SUEX OTC, S.R.O. (“SUEX”), a virtual currency exchange, for...more

Perkins Coie

OFAC Issues Second Ransomware Advisory and Designates Virtual Currency Exchange for Sanctions

Perkins Coie on

Agency’s Focus on Cryptocurrency and Blockchain Continues - On September 21, 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) released an updated advisory to “highlight the sanctions...more

Fenwick & West LLP

OFAC Helps Those Who Help Themselves: How a Ransomware Response Plan Can Help Avoid Sanctions Enforcement for Ransom Payments

Fenwick & West LLP on

Many companies have a “no ransomware payment” stance until faced with a ransomware attack, especially an attack that causes significant business disruption. At that point, the company may reconsider its stance (or at least...more

Robinson+Cole Data Privacy + Security Insider

Recent Ransomware Attacks Call for More Oversight of Crypto-Transactions

After the attacks on JBS and Colonial Pipeline, the U.S. Treasury Department will likely consider increasing its enforcement of anti-money-laundering laws and adopt new reporting requirements for cryptocurrency transactions....more

Spilman Thomas & Battle, PLLC

Decoded: Technology Law Insights - Issue 8, October 2020

Attorney General William P. Barr Announces Publication of Cryptocurrency Enforcement Framework - "The Framework provides a comprehensive overview of the emerging threats and enforcement challenges associated with the...more

Spilman Thomas & Battle, PLLC

Decoded: Technology Law Insights - Issue 7, September 2020

U.S. Judge Halts Trump's TikTok Ban, Hours Before It was Set to Start - "John Hall, an attorney for TikTok, said that the app, with some 100 million American users, is a 'modern day version of the town square' and shutting...more

Hogan Lovells

“Of Ransoms, Bitcoin, and Injunctions”: English High Court grants subrogee insurer proprietary injunction over ransomed Bitcoin

Hogan Lovells on

In a gripping tale sure to excite die-hard Potter fans everywhere, the English High Court has granted a so-called ‘Harry Potter injunction‘ (i.e. a protective injunction against persons unknown) restraining the dissipation of...more

Akin Gump Strauss Hauer & Feld LLP

OFAC Adds Iranian Bitcoin Exchangers’ Names and Wallet Addresses to SDN List, Ushers in “New Approach” to Sanctions Enforcement

• On November 28, 2018, OFAC designated two Iran-based individuals who helped exchange cryptocurrency (bitcoin) into fiat currency on behalf of alleged ransomware perpetrators who targeted U.S. businesses and municipal...more

Katten Muchin Rosenman LLP

Bridging the Week - November 2018 #4

The Securities and Exchange Commission’s view that most cryptoassets issued as part of initial coin offerings and presales to ICOs are securities was challenged by a federal court in California when it denied the agency’s...more

WilmerHale

OFAC Identifies Digital Currency Addresses in Sanctions Designations and Provides FAQs on Digital Currency Compliance

WilmerHale on

On November 28, the Treasury Department sanctioned two Iran-based individuals for exchanging bitcoin into Iranian rials on behalf of malicious cyber actors involved in the SamSam ransomware scheme. Notably, this action marks...more

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