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Second Mixer, TORNADO CASH, Added to OFAC Sanction List

On August 8, 2022, the United States Office of Foreign Assets Control (OFAC) updated its Specially Designated Nationals (SDN) List adding TORNADO CASH (a.k.a. TORNADO CASH CLASSIC; a.k.a. TORNADO CASH NOVA) along with 44 addresses from the Ethereum blockchain. This was an example of OFAC implementing sanctions on the person/entity level. OFAC, which sits within…

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Hamas Cryptocurrency Donations Update | Seizures by Israel’s National Bureau for Counter Terror Financing (NBCTF)

CipherTrace Cryptocurrency Intelligence Update: 07/16/2021 On July 1, Israel’s National Bureau for Counter Terror Financing (NBCTF) released a seizure order listing several cryptocurrency addresses across several blockchains associated with donation campaigns carried out by designated terrorist organization Hamas. In addition to  bitcoin and Ethereum, the seizure order demonstrates that Hamas  also collected donations in Tether,…

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Sanctions Research: More than 72,000 unique Iranian IP addresses linked to more than 4.5 million unique Bitcoin addresses

The following is an excerpt from our Cryptocurrency Crime and Anti-Money Laundering Report. Since monitoring sanctions-related IP usage across the Bitcoin blockchain, CipherTrace has detected more than 72,000 unique Iranian IP addresses linked to more than 4.5 million unique Bitcoin addresses. These Iranian IP addresses were either involved in direct cryptocurrency transactions or were used… Read more

SANCTIONS ALERT: Russian Crypto-Related Designations for US Election Interference

SANCTIONS UPDATE: On April 15, 2021, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned 16 individuals and 16 entities for attempting to undermine and influence the 2020 US presidential election. The sanctions list includes Russian officials, proxies, and intelligence agencies linked to the Internet Research Agency (IRA)—a Russian “troll farm”…

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CipherTrace Analysis of Paymon, Iran’s Sanction Evading Crypto-Rial

This analysis by CipherTrace looks at Iran’s proposed Crypto-Rial sovereign virtual currency. We conclude that such a currency and the regulations that Iran is proposing, will in fact, result in a flourishing cryptocurrency — i.e., one that benefits the regime through increased surveillance, taxation, access to global financial markets, and evasion of sanctions. The reasoning…

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