The U.S. Treasury's OFAC sanctions cryptocurrency wallets associated with the North Korean government

2023-05-24 08:22:52

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ChainCatcher message, according to a statement from the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC), U.S. officials sanctioned a group of cryptocurrency wallets allegedly linked to the North Korean government on Tuesday.

OFAC stated that the blacklisted wallets hold assets such as Bitcoin, Ethereum, USDT, and USDC. The wallets are hosted by Binance and belong to a 58-year-old North Korean citizen named Sang Man Kim. According to blockchain data, there have been no transactions between these addresses in the past year.

OFAC also stated: North Korea engages in malicious cyber activities to fraudulently obtain employment opportunities to generate income, including virtual currencies, to support related activities of the North Korean government, such as illegal weapons of mass destruction and ballistic missile programs. Hackers linked to North Korea have conducted numerous large-scale attacks in the digital asset industry. (CoinDesk)

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