Internet reports that the defunct cryptocurrency exchange ShapeShift has agreed to pay $750,000 to resolve its violations of U.S. Treasury's Office of Foreign Assets Control (OFAC) sanctions. The U.S. Treasury Department said on Tuesday that the exchange, founded by early crypto entrepreneur Erik Voorhees, had received funds from users in sanctioned countries: Cuba, Iran, Sudan and Syria. The federal government accuses ShapeShift of "not establishing any sanctions compliance program to screen users or transactions for connections to sanctioned jurisdictions" between December 2016 and October 2018 and processed more than $12.5 million in cryptocurrency transactions for customers from those countries.