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 International 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 value of Bitcoin from the platform.
Nemesis sanction
In line with OFAC, Parsarad profited from Nemesis by charging customers transaction charges, reportedly amassing thousands and thousands over {the marketplace}’s lifespan.
Nemesis served as a hub for cybercriminals and drug traffickers, enabling the sale of illicit substances and providers. 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 extra unlawful providers, together with solid identification paperwork {and professional} hacking providers. Customers may additionally rent hackers to compromise on-line accounts and steal delicate information.
Regardless of Nemesis’ shutdown, studies counsel 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, akin 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 data present he moved over $1.6 million in crypto, with analysts suggesting he leveraged Bitcoin’s worth fluctuations to develop his holdings.
Chainalysis furthered that Parsarad had no direct on-chain hyperlinks to Iranian monetary providers however had important publicity to darknet marketplaces and oblique connections to crypto mixers.
In line 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.
