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White House Convenes Summit for Stopping the Spread of Ransomware
Among other moves, President Biden’s office plans to share information with partners about crypto wallets used for laundering extorted funds.
By Nelson Wang
Updated Nov 2, 2022, 2:18 p.m. Published Nov 1, 2022, 10:14 p.m.
The Biden administration brought together 36 countries and the European Union for its second International Counter Ransomware Initiative (CRI) summit to counter the global spread of ransomware.
Among other initiatives, the CRI plans to establish an International Counter Ransomware Task Force (ICRTF), share technical information about ransomware with a wide range of stakeholders and provide an "investigator’s toolkit" to CRI partners.
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Significantly, the CRI also has committed to “take joint steps to stop ransomware actors from being able to use the cryptocurrency ecosystem to garner payment.” This would include sharing information about crypto wallets used for laundering funds, as well as developing and implementing anti-money laundering/combating the financing of terrorism (AML/CFT) crypto standards. Among those standards would be “know your customer” (KYC) rules to reduce their misuse by cyber criminals.
On Tuesday, the Financial Crimes Enforcement Network (FinCEN) also published a report on ransomware payments, finding they grew over the past year but without detailing what portion of that growth was in crypto.
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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