Crypto In Spotlight As OFAC Targets North Korean IT Worker Network
Crypto moved to the center of Washington’s latest North Korea sanctions action on March 12, after the US Treasury’s Office of Foreign Assets Control designated six individuals and two entities tied to DPRK-run IT worker schemes. For the digital asset industry, the significance was not only the sanctions themselves, but how explicitly the case framed […]
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The US Treasury (OFAC) has sanctioned six individuals and two entities tied to the Democratic People’s Republic of Korea (DPRK) IT‑worker schemes that allegedly generated nearly $800 million in 2024. US Vs. DPRK Over Crypto Fraud Crypto is once again at the center of Washington’s latest sanctions push. On an official press release on March 12, the US Treasury announced that they have blacklisted a North Korean IT‑worker network accused of routing nearly $800 million through digital assets to fund weapons programs in 2024. The Secretary of the Treasury Scott Bessent, quoted on the....
The Office of Foreign Asset Control (OFAC) has added three ethereum addresses to its Specially Designated Nationals And Blocked Persons List (SDN). OFAC alleges the ether addresses are controlled by the Lazarus Group, a cybercrime group that is associated with North Korea. Lazarus Group Behind Axie Infinity Heist The U.S. Treasury Department’s OFAC has added three ethereum addresses that are allegedly associated linked with the Lazarus Group cybercrime syndicate to its SDN list. The addition of the addresses comes a few weeks after U.S. authorities accused the Lazarus Group and....
On Monday, the U.S. Treasury Department’s watchdog the Office of Foreign Asset Control (OFAC) banned the ethereum mixing application Tornado Cash. OFAC has cited that the mixer has helped North Korean hackers such as the hacking syndicate known as Lazarus Group.
OFAC Sanctions Tornado Cash Mixing App
OFAC has officially banned the Tornado Cash and Tornado Cash Classic websites alongside all of the digital currency addresses allegedly associated with the site.
“The following entity has been added to OFAC’s SDN list: Tornado Cash,”....
The U.S. Department of the Treasury last week connected North Korean hacking organization Lazarus to an ETH wallet used in last month’s $622 million Ronin Network hack, a sidechain established for the play-to-earn game Axie Infinity. Now, the Treasury Department’s Office of Foreign Asset Control (OFAC) has added three Ethereum addresses to its blacklist, including […]
According to the U.S. Treasury and the Office of Foreign Assets Control (OFAC), the recent Ronin bridge hack may have been tied to the North Korean hacker syndicate called Lazarus Group. Federal law enforcement officials have tied the flagged ethereum address connected with the Ronin bridge exploit to the group of hackers and added the crypto address to OFAC’s Specially Designated Nationals And Blocked Persons list (SDN).
Ronin Bridge Exploiter’s Address Added to OFAC’s SDN List
On April 14, the U.S. government published an OFAC SDN list update which....