The US Treasury Division has recognized over-the-counter (OTC) cryptocurrency merchants who’ve helped North Korean Lazarus Group convert stolen crypto into fiat forex. Crypto merchants in China and Hong Kong have been sanctioned by the Treasury’s Workplace of International Property Management (OFAC). Moreover, a China-based banker was sanctioned for coordinating a few of the illicit money circulate.
Wu Huihui has been sanctioned by OFAC for “offering materials help to the Lazarus Group”, the North Korean hacker group identified for a few of the best exploits in cryptography. In keeping with an announcement launched by the Treasury Division on April 24, China-based Wu transformed hundreds of thousands of {dollars} value of crypto into fiat forex for North Korean “cyber actors” in a number of transactions in 2021.
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