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The United States Treasury Department added five cryptocurrency addresses to its sanctions blacklist. All wallets are connected to the Russian neo-Nazi paramilitary group – Task Force Rusich – that has participated in the Ukraine war.
Prior to that, the Department sanctioned the Ethereum-based cryptocurrency mixer – Tornado Cash – and Blender.io (a software tied to the Democratic People’s Republic of Korea).
Weakening Russia’s Forces
The US Treasury Department announced it designated 22 individuals and two entities who have allegedly supported the Russian government and, more specifically, its military campaign in Ukraine.
“Today’s action is being taken in coordination with those taken by the US Department of Commerce, which is imposing additional export control measures to further align with partners and allies, as well as by the US Department of State, which is targeting Russia’s defense and high-technology industries,” the press release reads.
Among the sanctioned were also five crypto addresses (two Bitcoin, two Ether, and one Tether) tied to Task Force Rusich. The US Treasury Department described the latter as a “neo-Nazi paramilitary group” that has been in combat in Ukraine and has committed atrocities against soldiers. It has also allegedly funded its assaults via cryptocurrencies, the finance organization added.
During the past several days, Ukraine’s army has launched a counter-offensive and has pushed back Russian troops. Their success was noted by the American President – Joe Biden – who couldn’t predict if that would be a war turning point.
The Treasury Department remains committed to aiding the Ukrainian efforts in the conflict and weakening Russia’s military power and financial ties with the rest of the world:
“As Ukraine presses forward with defending its freedom, today we’re taking steps to further degrade Russia’s ability to rebuild its military, hold perpetrators of violence accountable, and further financially isolate Putin.”
The Previous Sanctions
In May this year, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) revealed that North Korean hackers had used the cryptocurrency mixer Blender.io to launder digital assets and carry out state-sponsored cyber attacks. Arguing that the software poses a threat to America’s national security, the entity put it on its sanctions list:
“We are taking action against illicit financial activity by the DPRK and will not allow state-sponsored thievery and its money-laundering enablers to go unanswered.”
Last month, the Department sanctioned another crypto mixer – the Ethereum-based Tornado Cash. The American attorney and government official – Brian E. Nelson – said the tool “failed to impose effective controls designed to stop it from laundering funds for malicious cyber actors.”
Featured Image Courtesy of AA
The post US Treasury Sanctions Crypto Addresses Tied With Neo-Nazi Russian Group appeared first on CryptoPotato.

The Russian neo-Nazi paramilitary group - Task Force Rusich - used the sanctioned crypto addresses to fund its violent operations, the Department claimed.

cryptopotato.com

US Treasury Sanctions Crypto Addresses Tied With Neo-Nazi Russian Group

Crypto plays a vital role in shaping the modern-day war. It is used to buy weapons and boost the morale of combatants – and in this scenario – mercenaries who are just out there to add to an ongoing bloodshed.
On Friday, the United States Treasury Department stated that 22 persons and two businesses with ties to the Russian government had been added to the Office of Foreign Assets Control blacklist in reaction to the ongoing Russian military assault of Ukraine.
The Office of Foreign Assets Control (OFAC) has included an alleged neo-Nazi paramilitary group that it claims was participating in military offensives with Russia’s military in Ukraine on its list of sanctioned entities for their support of Russia’s ongoing invasion.
OFAC has added five cryptocurrency addresses to its list of sanctioned entities, all of which are associated with a Russian organization known as “Task Force Rusich.”
According to The Times, Rusich – a band of neo-Nazi Russian mercenaries led by a commander who has boasted about ripping the ears off enemy bodies – has been stationed in eastern Ukraine to fight alongside its Russian military comrades.



Image: Protocol
Preventing Crypto From Reaching Russian Mercenary Hands
According to data compiled by blockchain analytics firm Nansen, thousands of dollars’ worth of cryptocurrency was sent to these addresses.
The latest action is coordinated with the efforts taken by the U.S. Department of Commerce and the U.S. Department of State.
While the State Department is going after Russia’s defense and high-tech businesses, the DOC is imposing additional export control measures in coordination with relevant departments.
U.S. Treasury Secretary Janet Yellen has stated that the sanctions were implemented in an effort to make Russia pay for the “war crimes, atrocities, and aggression” it has committed.
The sanctions list is also meant to isolate Russian President Vladimir Putin economically and stop Russia from using cryptocurrency or other means to pay its military. The group’s Bitcoin, Ether, and USDT were associated with specific addresses.
Bitcoin Is Top Crypto Flowing Through Entities With Russian Ties
Chainalysis, a blockchain analytics firm, stated in July that organizations with Russian connections had collected $2 million in cryptocurrencies, the vast bulk of which had been sent in Bitcoin ($1.45 million) and Ethereum ($590,000). Tether, Litecoin, and Dogecoin were all used to send sizeable sums.
Russia has been forced to develop other payment and transaction systems as a result of the U.S. Treasury and other government agencies cracking down on the flow of cryptocurrency into the nation.
Secretary of the Treasury Janet L. Yellen issued the following statement:
“The United States will continue to take strong actions to hold Russia accountable for its war crimes, atrocities and aggression… we’re taking steps to further degrade Russia’s ability to rebuild its military, hold perpetrators of violence accountable, and further financially isolate Putin.”
Meanwhile, the United Kingdom Office of Financial Sanctions Implementation (OFSI) of Her Majesty’s Treasury determined last week that crypto exchanges must notify any cryptocurrencies suspected of being used to circumvent Russian sanctions.
The OFSI announced the “freeze of financial and economic resources” against anyone who work to destabilize or undermine Ukraine’s sovereignty and assist the Russian government.


Crypto total market cap at $927 billion on the daily chart | Source: TradingView.com

Featured image from The Times, Chart: TradingView.com


Crypto plays a vital role in shaping the modern-day war. It is used to buy weapons and boost the morale of combatants &#8211; and in this scenario &#8211; mercenaries who are just out there to add to an ongoing bloodshed. On Friday, the United States Treasury Department stated that 22 persons and...

bitcoinist.com

Crypto Addresses Tied To Russian Neo-Nazi Paramilitary Group Added To U.S. Blacklist

According to the Treasury Department, members of the sanctioned group fought alongside Russia’s military, including near territory Ukrainian forces reclaimed on Monday. 

NEO price	$8.31
Low - High 24H	$8.23 - $8.56
Market cap	$585.78M
Volume 24H	$19.55M
All time high	$198.38 -95.82% January 15th 2018
All time low	$0.078349 10493.35% October 21st 2016
Genesis date	N/A

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