A network of people and virtual currency exchanges associated with harboring Russian cybercrime were hit with sanctions on Thursday, in a government-wide crackdown on cybercrime that could assist Russia ahead of President Joe Biden's meeting with Ukrainian President Volodymyr Zelenskyy. U.S. Treasury sanctioned alleged Russian hacker Sergey Ivanov and Cryptex — a St. Vincent and Grenadines registered virtual currency exchange operating in Russia. Virtual currency exchanges allow people and businesses to trade cryptocurrencies for other assets, such as conventional dollars or other digital currencies.
