The US Division of the Treasury has imposed sanctions on Behrouz Parsarad, an Iranian nationwide accused of managing the now-defunct Nemesis darknet market.
As a part of the motion, authorities blacklisted 49 Bitcoin (BTC) and Monero (XMR) addresses linked to him.
The Workplace of Overseas Belongings Management (OFAC) introduced the sanctions on March 4, stating that the transfer was a part of a global operation dismantling Nemesis earlier in 2024.
In the meantime, the sanction towards Parsarad is a part of OFAC’s ongoing efforts to dismantle illicit on-line marketplaces. Notably, the company beforehand sanctioned Hydra Market in April 2022, with German authorities confiscating roughly €23 million price of Bitcoin from the platform.
Nemesis sanction
In keeping with OFAC, Parsarad profited from Nemesis by charging customers transaction charges, reportedly amassing tens of millions over {the marketplace}’s lifespan.
Nemesis served as a hub for cybercriminals and drug traffickers, enabling the sale of illicit substances and companies. The platform’s built-in cash laundering options allowed customers to hide their monetary actions.
The authorities estimate that between 2021 and 2024, Nemesis facilitated over $30 million in drug gross sales. {The marketplace} additionally provided further unlawful companies, together with solid identification paperwork {and professional} hacking companies. Customers may additionally rent hackers to compromise on-line accounts and steal delicate knowledge.
Regardless of Nemesis’ shutdown, experiences recommend that Parsarad has already begun discussing launching a brand new darknet market with distributors.
Parasad’s on-chain exercise
A blockchain investigation by Chainalysis uncovered that Parsarad funneled over $12,000 to different darknet marketplaces, similar to ASAP, Incognito, and Subsequent Technology.
The agency additionally famous that his Bitcoin wallets acquired over $850,000 from addresses related to illicit transactions.
In the meantime, on-chain information present he moved over $1.6 million in crypto, with analysts suggesting he leveraged Bitcoin’s value fluctuations to develop his holdings.
Chainalysis furthered that Parsarad had no direct on-chain hyperlinks to Iranian monetary companies however had vital publicity to darknet marketplaces and oblique connections to crypto mixers.
In keeping with the agency, Parsarad intentionally obscured his illicit actions to evade detection due to Iran’s strict penalties for drug-related offenses, together with the demise penalty.
