America Treasury Division has recognized over-the-counter (OTC) cryptocurrency merchants who helped North Korea’s Lazarus Group convert stolen cryptocurrency into fiat foreign money. The Treasury’s Workplace of Overseas Belongings Management (OFAC) has sanctioned cryptocurrency merchants in China and Hong Kong. As well as, a China-based banker was sanctioned for coordinating some illicit cash flows.
Wu Huihui was fined by OFAC for βoffering materials assist to the Lazarus Group,β a North Korean hacking group identified for a number of the greatest cryptocurrency exploits. In response to the assertion launched Treasury Division April 24, Wu, situated in China, 2021. transformed hundreds of thousands of {dollars} price of cryptocurrency into fiat foreign money for North Korean “cyber actors” in a number of transactions.
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