Treasury sanctions Huriya CEO’s Tether address over Russia connections
The US Treasury Department and the Office of Foreign Assets Control (OFAC) have imposed sanctions on various entities with ties to Russia. May 19th.
Treasury Department Sanctions New Crypto Addresses
OFAC has sanctioned several companies, including the United Arab Emirates (UAE)-based firm Huriya Private FZ LLE. The company is suspected of laundering money and obtaining passports for Russian actors since Russia’s invasion of Ukraine in 2022.
The sanctions against Huriya Private also extend to the company’s CEO, Irish national John Desmond Hannafin. The Treasury has authorized Hanafin’s Tether (USDT) address 0x38735f03b30FbC022DdD06ABED01F0Ca823C6a94.
Individual reports from blockchain analytics firms Oblong It is suggested that this address received over $4.95 million in stablecoin trading.
Privates Furiya and Hanafin are just two people named in the latest sanctions. OFAC has sanctioned hundreds of other individuals and entities to evade Russian export controls, interfere with military finances and energy revenues.
Other Russian-related Ministry of Finance measures
The U.S. Treasury Department and OFAC have taken action against other Russian-linked crypto addresses and crypto companies in the past.
In September 2022, OFAC sanctioned several crypto addresses associated with Task Force Rusic. In April 2022, it sanctioned cryptocurrency mining company Bitriver and the Russian darknet market Hydra, which relied on bitcoin trading.
In February 2023, authorities sanctioned Bitcoin and Ethereum addresses associated with Russian arms dealer Igor Zimenkov and his son Jonathan Zimenkov.
The agency has sanctioned not only Tornado Cash, a decentralized cryptocurrency mixer, but also numerous officials from other countries, including North Korea and China.
An article about the Treasury Department sanctioning CEO Furiya’s tethered address over Russia connections first appeared on CryptoSlate.