U.K. Sanctions Cryptomus Over Payments Linked to Russia and Illicit Activity
Summary
The U.K. sanctioned Cryptomus and three other payment platforms on October 8, freezing Cryptomus assets at U.K. banks and barring British companies from doing business with it. Researchers have linked Cryptomus to illicit payments and Russian financial networks.
Key points
- The U.K. sanctioned Cryptomus on October 8 for processing payments that benefit the Russian government and its financial institutions; the measures freeze its assets at U.K. banks and bar British companies from doing business with it.
- VexPay, TokenSpot and Tsunami Payments were also targeted by the U.K. sanctions.
- Cryptomus was previously known as Certa Payments and Xeltox Enterprises; it launched the parallel service Heleket, according to the article.
- Chainalysis said Cryptomus and Heleket were major payment hubs for illicit activity, with more than 900 illicit counterparties in one month in late 2025.
- TRM Labs reported that Cryptomus processed more than $7 billion in transactions since 2022, including transactions associated with criminal operations; it said transaction volume fell after KYC rules were introduced.
- Richard Sanders said the U.K. sanctions could have more practical effect than Canada’s CAD $176 million fine, which Cryptomus appealed. He said the platform continued operating through Heleket.
Article Details
- Event Type
- U.K. economic sanctions against cryptocurrency payment platforms.
- Impact
- The sanctions freeze Cryptomus assets held at U.K. banks and prohibit British companies from doing business with it. The U.K. also targeted VexPay, TokenSpot, and Tsunami Payments. Chainalysis and TRM Labs described Cryptomus and its associated service Heleket as processing substantial illicit transaction volumes; those characterizations are attributed to the firms.
People
Vendors
Products
Certa Paymentsissued sanctions (PDF) against Cryptomus — previously known as Certa Payments and Xeltox Enterprises — for processing payments that benefit the Russian government and its financial institutions.CryptomusThe United Kingdom has issued economic sanctions against Cryptomus, a chameleonic cryptocurrency platform that experts say serves as a major conduit for payments related to ransomware, narcotics, darknet markets, fraudHeleketHeleket’s support agent on Telegram claims, despite all evidence to the contrary, that it is not affiliated with Cryptomus.TokenSpotAlso targeted in these sanctions were the virtual payment platforms VexPay, TokenSpot, and the Tsunami Payments service.Tsunami PaymentsAlso targeted in these sanctions were the virtual payment platforms VexPay, TokenSpot, and the Tsunami Payments service.VexPayAlso targeted in these sanctions were the virtual payment platforms VexPay, TokenSpot, and the Tsunami Payments service.Xeltox Enterprisesissued sanctions (PDF) against Cryptomus — previously known as Certa Payments and Xeltox Enterprises — for processing payments that benefit the Russian government and its financial institutions.
Countries
CanadaThe company has changed its name several times since emerging in 2022, most recently to “Heleket” last year after Canada levied a record CAD $176 million fine against the platform for anti-money laundering violations.Russiarelated to ransomware, narcotics, darknet markets, fraud and cybercrime services that are helping Russia circumvent existing financial restrictions.United KingdomThe United Kingdom has issued economic sanctions against Cryptomus, a chameleonic cryptocurrency platform that experts say serves as a major conduit for payments related to ransomware, narcotics, darknet markets, fraud