U.K. Sanctions Cryptomus for RU Money Laundering
The UK has imposed sanctions on the cryptocurrency platform Cryptomus for its role in facilitating money laundering and payments for illicit activities linked to the Russian government. The move is part of a broader effort to disrupt the financial infrastructure supporting Russia's wartime economy.
Why it matters
It illustrates the increasing use of economic sanctions to target the intersection of cryptocurrency and state-sponsored cybercrime.
The United Kingdom has issued economic sanctions against Cryptomus , a chameleonic cryptocurrency platform that experts say serves as a major conduit for payments related to ransomware, narcotics, darknet markets, fraud and cybercrime services that are helping Russia circumvent existing financial restrictions.
Heleket’s support agent on Telegram claims, despite all evidence to the contrary, that it is not affiliated with Cryptomus. Image: Richard Sanders.
On October 8, the U.K. issued sanctions (PDF) against Cryptomus — previously known as Certa Payments and Xeltox Enterprises — for processing payments that benefit the Russian government and its financial institutions. The sanctions freeze any Cryptomus assets at U.K. banks, and bar British companies from offering it any business, virtual or otherwise. Also targeted in these sanctions were the virtual payment platforms VexPay , TokenSpot , and the Tsunami Payments service .
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in