The U.S. government sanctions Russian cryptocurrency exchanges PM2BTC and Cryptex

ChainCatcher News, the U.S. government has sanctioned two Russian cryptocurrency exchanges, PM2BTC and Cryptex, related to underground financial activities, as well as two individuals.

The Financial Crimes Enforcement Network (FinCEN) of the U.S. Treasury Department has designated PM2BTC and its associated individual Sergey Ivanov as "primary money laundering concerns," as the exchange is suspected of handling proceeds from ransomware and other illegal activities. Cryptex is alleged to be linked to Russian cybercriminals, involved in over $720 million in illegal transactions.

The U.S. Secret Service Cyber Investigations Division, Dutch police, and the Dutch Financial Intelligence and Investigation Service have seized the network domains and infrastructure associated with PM2BTC, Cryptex, and Ivanov.