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US sanctions Nemesis crypto addresses

US sanctions Nemesis crypto addresses

GrafaGrafa2025/03/06 13:00
By:Liezl Gambe

The U.S. Department of the Treasury has imposed sanctions on Behrouz Parsarad, an Iranian national accused of operating the Nemesis darknet marketplace, which was shut down in March 2024.

The sanctions include blocking 49 cryptocurrency addresses linked to Parsarad, comprising Bitcoin (CRYPTO:BTC) and Monero (CRYPTO:XMR) wallets.

Nemesis was a hub for illicit activities, including narcotics trafficking, cybercrime services like DDoS attacks and phishing, and the sale of fraudulently obtained goods and data.

The marketplace had over 150,000 user accounts and more than 1,100 seller accounts before its takedown.

Parsarad profited significantly from transaction fees on Nemesis, reportedly earning millions of dollars.

He also facilitated money laundering for drug traffickers and cybercriminals using the platform.

The sanctions aim to disrupt Parsarad's financial activities and prevent him from launching a new darknet marketplace.

Despite Nemesis' shutdown, Parsarad has been discussing plans to establish a successor platform with former vendors.

Acting Under Secretary for Terrorism and Financial Intelligence Bradley T. Smith emphasised the Treasury's commitment to dismantling such illicit platforms.

"Treasury, in partnership with US law enforcement, will use all available tools to dismantle these darknet marketplaces and hold accountable the individuals who oversee them," he stated.

The action against Nemesis reflects ongoing efforts by international authorities to combat cybercrime and darknet activities.  

Despite these efforts, darknet marketplaces continue to generate significant revenue, with TRM Labs reporting over $1.7 billion in revenue in 2024.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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