News Explorer — Crypto Platform Cryptomus Receives $126 Million Fine for Not Reporting Suspicious Transactions, Including Child Exploitation, Ransomware

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Crypto Platform Cryptomus Receives $126 Million Fine for Not Reporting Suspicious Transactions, Including Child Exploitation, Ransomware

Canada's financial intelligence agency has fined cryptocurrency platform Cryptomus a record $126 million for failing to report suspicious transactions related to child exploitation, ransomware, and sanctions evasion. The firm, operating as Cryptomus, did not file over a thousand suspicious transaction reports and 1,500 large-value crypto transaction reports in July 2024.