Ransomware incidents have disrupted critical services and businesses globally, as well as schools, government offices, hospitals and emergency services, transportation, energy, and food companies.
Unprincipled virtual currency exchanges like Chatex are critical to the profitability of ransomware activities, especially by laundering and cashing out the proceeds for criminals. Treasury will continue to use all available authorities to disrupt malicious cyber actors, block ill-gotten criminal proceeds, and deter additional actions against the American people. Treasury benefitted immensely from close coordination with our partners across Latvian and Estonian government agencies, including their information sharing and swift action.