US Sanctions Darknet Market Hydra, Crypto Exchange Garantex

The U.S. Department of the Treasury has sanctioned Russian darknet marketplace Hydra and cryptocurrency exchange Garantex. The news comes on the day after Hydra was shuttered in a joint operation by the German Federal Criminal Police Office – aka the Bundeskriminalamt or BKA – and U.S. law enforcement agencies. Garantex has been involved in ransomware and other cybercriminal activities targeting U.S. citizens and other entities in the country, the Treasury Department statement says. The Sanctions and Their Implications The Office of Foreign Assets Control of the U.S. Treasury Department has imposed expansive sanctions against certain Russian entities and individuals pursuant to E.O. 14024. The Treasury Department designated Garantex as being pursuant to this executive order and Hydra pursuant to E.O. 13694, which focuses on specific harms caused by significant malicious cyber-enabled activities.