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The Office of Foreign Assets Control has escalated its enforcement efforts by tightening its grip on individuals and entities operating within the financial services and technology sectors in Russia, particularly those involved in virtual assets, enabling evasion of US sanctions.
The Treasury’s roster of companies comprises fintech firms located in Moscow, such as B-Crypto, Masterchain, Atomaiz, Veb3 Tekhnologii, and Veb3 Integrator. It also includes Tokentrust, which is based in Cyprus and holds a majority ownership stake in Atomaiz. According to the blockchain intelligence platform’s findings, Netex24 facilitated transfers to sanctioned Russian banks such as Tinkoff and Sberbank, along with similar institutions. Chainalysis has
Another notable finding was that the amount sent by Netex24 and Bitpapa to sanctioned entities and darknet markets has steadily risen since the onset of Russia’s conflict in Ukraine. Meanwhile, transfers to exchanges without KYC requirements and other illicit services have remained relatively stable.
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