Crypto channels targeted in Biden’s fight against ransomware

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The Biden administration is planning a new campaign against ransomware attacks through sanctions to cut off criminals’ cryptocurrency pipelines, and it has urged companies to report and protect against extortion attempts. From a report: Deputy Treasury Secretary Wally Adeyemo told reporters the sanctions would be imposed on Suex, a cryptocurrency transfer service registered in the Czech Republic. He said Suex had “facilitated transactions involving illicit products for at least eight ransomware variants. Adeyemo and Deputy National Security Advisor Anne Neuberger, who also briefed reporters on a conference call Monday evening, underscored the importance of ransomware victims and vulnerable businesses and organizations taking action to bolster their security. new Treasury Department directive that makes “an express statement that the US government strongly discourages the payment of cyber ransoms or extortion demands.”

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