More than half of the confirmed transactions of the service are related to illegal or high-risk activities

​The US has imposed sanctions on the cryptocurrency exchange Chatex

09.11.2021 - 10:15

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1 min

What's new? The US Department of the Treasury and Department of Justice have blacklisted the Chatex cryptocurrency exchange service. The list includes 30 Chatex addresses on Bitcoin, Ethereum, Tether, and Ripple networks. Chatex affiliates Izibits OÜ, Chatextech SIA, and Hightrade Finance Ltd were also included in the sanctions list. This is reported in a statement by the Department of Justice.

DOJ’s Press Release

Why is Chatex under sanctions? The Office of Foreign Assets Control (OFAC) has concluded that more than half of Chatex's confirmed transactions are related to illegal or high-risk activities. This includes, in particular, ransomware operators' activities.

According to Chainalysis, from September 2018 to the present, Chatex has processed BTC transactions worth at least $77,5 million, including more than $17 million in criminal assets.

What is known about Chatex? Chatex is owned and operated by Izibits OÜ. It had previously had its cryptocurrency license revoked. OFAC stated in its investigation that Chatex is directly linked to the Russian exchanger Suex. The last one came under restrictive measures on 21 September. Both organizations were co-founded by Russian Egor Petukhovsky.

Company card in MTR Estonia

Author:

yanazakomoldina yanazakomoldina

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