The United States Department of the Treasury, through OFAC, announced sanctions against the Russian company Operation Zero and its founder, Sergey Zelenyuk. Treasury Secretary Scott Bessent confirmed that the measure responds to the theft of proprietary software from a U.S. defense contractor, an operation funded by paying millions of dollars in cryptocurrency to an Australian national who has already pleaded guilty.
This case represents the first use of the powers granted by the Protecting American Intellectual Property Act of 2023. This action has a forceful impact, as it exposes how foreign entities use digital assets to evade controls and acquire “exploits” that compromise national security. By sanctioning Operation Zero, the government seeks to cut off the financial flow that incentivizes corporate espionage and the theft of trade secrets within U.S. territory.
The market will be closely watching for the potential application of additional sanctions on other cryptocurrency wallets associated with this network. U.S. authorities have made it clear that they will continue to pursue any entity that utilizes blockchain technology to facilitate cyberattacks. Financial institutions and exchange platforms are recommended to strengthen their compliance protocols to avoid processing transactions linked to these designated actors.
Source: https://goo.su/abkt6LO
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