OFAC Sanctions 7 New Bitcoin Addresses Allegedly Associated With Iran-Related Ransomware Activities

The Treasury's Office of Foreign Asset Control has published an update to its SDN List (OFAC's SDN List), which lists individuals who are accused of involvement in ransomware related to Iran. Seven bitcoin addresses are also listed on the list that are allegedly linked to the Iranian ransomware gang.

Iran adds 7 new bitcoin addresses to the SDN List following the Tornado Cash Ban

The OFAC released a new SDN List Update on September 14, 2022, following the ban of Tornado Cash by OFAC, the Treasury's Office watchdog. Two companies and ten individuals are listed in the SDN List update as being accused of financing ransomware programs based in Iran.

OFAC has previously accused North Korean groups like the Lazarus Group of ransomware involvement. According to OFAC's SDN List announcement on Wednesday, "This IRGC-affiliated organization is known to exploit software flaws in order to execute their ransomware operations as well as engage in unauthorized data access, data exfiltration and other malicious cyber activity."

A total of seven BTC addresses were also mentioned in the OFAC report, along with the ten individuals and two companies. Some addresses in the OFAC report never received a single BTC deposit. Others have received BTC. This one is allegedly associated to Ahmad Khatibi Aghada from Iran. The address used to hold 0.2931 BTC.

The SDN update of September 14 does not include all cyber-related designations. OFAC published an update to cyber-related categories on September 2nd, and two "Iran related designations" on September 8th and 9th 2022. Wednesday's update contains only newly added BTC addresses.

What do you think of OFAC adding seven bitcoin addresses to its SDN List? Please comment below to let us know your thoughts on this topic.

By: Jamie Redman
Title: OFAC Sanctions 7 New Bitcoin Addresses Allegedly Associated With Iran-Related Ransomware Activities
Sourced From: news.bitcoin.com/ofac-sanctions-7-new-bitcoin-addresses-allegedly-associated-with-iran-related-ransomware-activities/
Published Date: Wed, 14 Sep 2022 17:30:07 +0000

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