Benjamin W. Hutten extensively quoted in CoinDesk article, “Chatex users ask US Treasury to release crypto frozen by sanctions”
CoinDeskBenjamin W. Hutten
The CoinDesk article, “Chatex users ask US Treasury to release crypto frozen by sanctions,” discussed the recent sanctions against Chatex, which allegedly facilitated transactions for multiple ransomware variants leaving 370,000 registered users unable to make withdrawals from their accounts.
Hutten noted that Chatex users might have a difficult time retrieving their crypto because of its ties to Suex, which OFAC believes is involved in ransomware money laundering. Hutten added, “As OFAC’s actions against Chatex are part of a government-wide crackdown on ransomware, any application to release funds will be scrutinized very closely and most Chatex users are unlikely to see the release of their assets in the near future, if at all. OFAC typically imposes multiple conditions and limitations on any license it grants, and it is hard to see how it would trust Chatex to determine whether a user could meet the conditions and limitations that OFAC would impose on any release of funds.”