The US Treasury Department has sanctioned eight cryptocurrency wallet addresses connected to the Russian exchange Garantex and the Yemeni Houthi movement, following evidence from blockchain forensics linking nearly $1 billion in funds to Houthi operations. The addresses encompass two deposit addresses at major crypto platforms and six privately controlled ones. Most transactions facilitated Houthi operations in Yemen and the Red Sea. Slava Demchuk, a consultant on money laundering, emphasized the implications for compliance frameworks and increased scrutiny on decentralized platforms. The Houthis, a Yemeni political and armed movement, have a history of threatening maritime security and were designated as a foreign terrorist organization by the US. Garantex, recently sanctioned for aiding money laundering efforts, had to halt operations after being linked to these activities. The situation illustrates the growing recognition of cryptocurrencies' role in geopolitical conflicts.

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