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The US Treasury Department has imposed sanctions on two Russian crypto exchanges, Cryptex and PM2BTC, for allegedly facilitating money laundering for cybercriminals. These exchanges are associated with Sergey Sergeevich Ivanov, also known as Taleon, who has been linked to providing money laundering services for threat actors for over two decades. The US government alleges that Ivanov’s exchanges were used to launder funds obtained through various cybercrimes, including ransomware attacks and carding schemes. The sanctions aim to disrupt the financial networks used by Russian cybercriminals and deter future illicit activities. This action highlights the increasing focus on tackling cryptocurrency-related cybercrime and the importance of international cooperation to disrupt criminal networks.