US Sanctions Cryptocurrency Addresses Tied to North Korean Cybercrime

The U.S. Treasury’s Office of Foreign Assets Control (OFAC) sanctioned cryptocurrency wallet addresses tied to North Korean cybercrime, blocking access to U.S. assets. Binance, the largest cryptocurrency exchange, admitted to facilitating transactions with sanctioned entities, leading to a $4.3 billion fine. Binance allegedly failed to prevent transactions with criminal entities, including terrorist groups, and violated North Korean sanctions by brokering transactions totaling $4.37 million. OFAC also sanctioned individuals and entities linked to North Korea’s weapons development and cyber activities, while the U.S. and South Korea are coordinating efforts to prevent North Korea from using illegal cryptocurrency transactions to fund its nuclear programs.

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