North Korean crypto wallets sanctioned; Binance says it helped Treasury seize $4.4M
The US Treasury Department’s Office of Foreign Assets Control (OFAC) has sanctioned multiple addresses linked to North Korean cybercrime. May 23rd.
6 wallets authorized
OFAC sanctioned six cryptographic addresses belonging to North Korean national Kim Sang-man, who was involved in revenue-generating cyber activities for the North Korean government and weapons programs, as well as job placements for illicit IT workers.
The list of authorized addresses includes 2 Bitcoin (BTC) addresses, 2 Ethereum (ETH) addresses, 1 Tether (USDT) address, and 1 USDC address.
OFAC also sanctioned four organizations associated with Mr. Kim and the plan, including Kim Long Information Technology Cooperation.
OFAC said Kim had received more than $2 million in cryptocurrency from IT employees as of 2021. It does not say whether this represents all relevant funds.
Binance Contributes to $4.4 Million Seizure
binance announced separately It said it helped the U.S. Treasury Department take action against related accounts and seize $4.4 million associated with those involved.
Binance said its members acted in accordance with the warrant issued. He noted that the blockchain ledger provides “extreme transparency,” allowing employees to provide relevant information to law enforcement.
OFAC did not mention Binance’s support in today’s announcement.
In past reports, Binance suggested The company had frozen over $5 million related to North Korean cryptocurrency crimes, but the action appears to have been linked to another $600 million attack on the Axie Infinity and Ronin Network projects.
Binance has emphasized its commitment to law enforcement and compliance amid complaints from U.S. regulators and private journalists alike.
After the North Korean cryptocurrency wallet was licensed. Binance Claims Contribution to Treasury Seizure of $4.4 Million Appeared First on CryptoSlate.
