LockBit Ransomware Crackdown: US Sanctions Crypto Wallets

According to the latest report, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) has imposed sanctions on cryptocurrency addresses linked to ransomware activities. This action targets two Russian nationals, Artur Sungatov and Ivan Kondratyev, who have been indicted for their involvement with the LockBit ransomware group. The sanctions include nearly a dozen bitcoin and ether addresses, which did not contain any funds at the time of the announcement. These measures prohibit U.S. entities from providing financial services to the sanctioned individuals, aiming to curb the operations of one of the most notorious ransomware distributors globally.