HomeNewsUS Treasury Department blacklists Bitcoin addresses linked to Iran ransomware group

US Treasury Department blacklists Bitcoin addresses linked to Iran ransomware group

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US Treasury Department has blacklisted seven Bitcoin wallet addresses linked to members of Iran’s Islamic Revolutionary Guard Corps (IRGC).

The division acknowledged in a Sept. 14 press release that the Iran-primarily based mostly malicious cyber actors like launched ransomware attacks in opposition to the U.S. since 2020. The neighborhood is claimed to like attacked the New Jersey municipality, some U.S-primarily based mostly young folk’s hospitals, and a bunch of private institutions.

US Treasury Department blacklists Bitcoin addresses linked to Iran ransomware group
PHOTO CREDIT: decrypt.co

The IRGC-affiliated folk embodies Mansour, Ali Ahmadi, Mohammad Ahmadi, Mahdavi, Rashidi, Khatibi, Nikaeen, Mostafa, Mojtaba, and Shakeri. They’d worked for Najee Expertise and Afkar Scheme corporations to birth their malicious activities.

Four of the backlisted bitcoin (XBT) wallets were linked to Nikaeen Ravari and whereas three belonged to Ahmad Khatibi Aghada. The duo is claimed to like helped the IRGC fabricate and deploy ransomware that threatened the nationwide security of the U.S.

Since the sanction, the Treasury has seized all properties belonging to the designated folk in the country. U.S folk and institutions are prohibited from transacting with them, as any individual indicted will be subjected to additional sanctions.

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Secretary of the Treasury Mind E. Nelson acknowledged:

“We will continue to resolve on coordination action with our world companions to strive in opposition to and deter ransomware threats, in conjunction with these linked to the IRGC.”

The Treasury also equipped as much as $10 million in rewards for any recordsdata that can consequence in the arrest of Mansour, Nikaeen, or any of the designated folk.

Ransomware Attackers choosing Bitcoin

Between 2011 and 2021, over $5 billion worth of Bitcoin has been paid out to ransomware attackers, in accordance with a count by Financial Crimes Enforcement Network (FinCEN).

The ransomware assault in opposition to Colonial Pipeline in 2021 compelled the American firm to pay out $4,4 million in Bitcoin to the DarkSide hackers.

A recent report by CipherTrace unearths that ransomware attackers who decide to receive their payments in Bitcoin normally add between 10% to 20% premiums. The additional price is to address the chance of the usage of without peril traceable cryptocurrencies relish Bitcoin.

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