Biden Administration Sanctions Crypto Exchange Chatex Over Ransomware Allegations

Biden Administration Sanctions Crypto Exchange Chatex Over Ransomware Allegations
The U.S. Treasury Department sanctioned crypto exchange Chatex for its alleged involvement in ransomware operations, the federal agency said in a Monday press release.It is the second time that the U.S. Treasury Department has sanctioned a crypto exchange. Chatex “has facilitated transactions for multiple ransomware variants” and has provided “material support” to crypto over-the-counter exchange Suex, which is also associated with ransomware, the press release said. In September, Suex was sanctioned by the Treasury Department over ransomware activities.The Biden administration has launched a crackdown on ransomware and is trying to convince other governments to follow its lead. Crypto intelligence firm…