The Treasury Department took action against a Houthi financial network, imposing sanctions on cryptocurrency wallets used by the Iran-backed militant group to fund its war machine.
What Happened: According to a Wednesday press release, the Department of the Treasury’s Office of Foreign Assets Control identified eight digital wallets used by the Yemen-based group to help procure millions worth of weapons and commodities, including stolen Ukrainian grain, from Russia.
The sanctions targeted Russian-based Afghan nationals Hushang and Sohrab Ghairat, who have facilitated commercial operations on behalf of the Houthis, and particularly Sa’id al-Jamal, who had cryptocurrency addresses included in his December 2024 sanctions designation.
Further investigation by Chainalysis, a firm that tracks illicit cryptocurrency activity, revealed that the …
