The US Treasury imposed sanctions on the "SOX" platform

Wednesday, 22 September 2021
Ban any SOX assets, subject to US jurisdiction Ban any SOX assets, subject to US jurisdiction Americans banned from trading on SOX

#Vision_Int, Dubai United Arab Emirates:- The US Treasury indicated that 40 percent of the record of transactions, 40 percent of the record of transactions of the "SOX" cryptocurrency platform, are related to "illegal parties", while it did not confirm that this platform is involved in cybercrime.

The United States imposed sanctions, the first of its kind, on the "Sox" cryptocurrency trading platform, as it is linked to extortion and ransom demands.

Corporate hacking and ransom attacks targeting a US oil pipeline, a meatpacking company, and Microsoft email have caused global chaos and exposed the vulnerability of US infrastructure to hackers.

“Some virtual currency trading is being exploited by malicious actors, but others in the case of SOX facilitate illicit activities for illicit gain,” a Treasury statement said, adding that these sanctions are the first of their kind against a cryptocurrency exchange.

As a result of the sanctions, any SOX assets that are subject to US jurisdiction are now banned, in addition to preventing Americans from trading on them.

Sox is registered in the Czech Republic and has subsidiaries in Russia and the Middle East.

"In Bitcoin alone, SOX (...) has received more than $160 million from ransomware parties, scammers, and darknet market operators," said experts from ChinaAys, who observed large amounts of transfers from unknown sources on the platform.

They added that the US designation is important because it represents a "big step" by Washington to combat money laundering, which is the key to digital crime.

The United States has also warned companies and individuals who pay ransoms to hackers to retrieve their files and data that they themselves may face sanctions.

About $350 million was paid to online extortionists last year, a 300 percent increase from 2019, according to the Department of Homeland Security.

US officials say many of the cyber attacks originated in Russia, but Moscow denies responsibility.

Rate this item
(0 votes)

Video Gallery

NUS researchers develop smart bandage for onsite chronic wound monitoring
NUS researchers develop smart bandage for onsite chronic wound monitoring
بالفيديو.. قتلى وجرحى في انفجار بمطعم شمال شرقي الصين صباح اليوم
بالفيديو.. قتلى وجرحى في انفجار بمطعم شمال شرقي الصين صباح اليوم
China makes fun of US, shares video of Taliban militants turning US planes into swings | Cobrapost
China makes fun of US, shares video of Taliban militants turning US planes into swings | Cobrapost
« October 2021 »
Mon Tue Wed Thu Fri Sat Sun
        1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

Tweet

vision-top
Wed Oct 27 16:16:44 +0000 2021

Hacia la exención de visas de cuatro países para ingresar a Estados Unidos https://t.co/KIovAHhVd4
vision-top
Wed Oct 27 16:00:56 +0000 2021

واشنطن تدرس إعفاء إسرائيل، قبرص، رومانيا وبلغاريا من تأشيرة الدخول الى أمريكا https://t.co/pkczTxOgpY https://t.co/AMCZ1wG2Gg
vision-top
Wed Oct 27 15:43:44 +0000 2021

Les Arabes participeront-ils au concours Miss Univers en Israël ?? https://t.co/PjI1cJWrip
vision-top
Wed Oct 27 15:29:31 +0000 2021

An American welcomes the release of Sudanese Prime Minister Abdalla Hamdok https://t.co/voH5vOSEKl
Follow vision-top on Twitter

See Video

VISION All Rights Reserved.