Cryptocurrency

Ronin

Axie Infinity

Read

<p class="is-style-lead">Crypto exchange Binance has announced its collaboration with US law enforcement agencies, seizing $4.4 million worth of crypto assets connected to cybercrime organizations operating in North Korea.</p>



<p>In a series of <a href="https://twitter.com/binance/status/1661474674377740289" target="_blank" rel="noopener">tweets</a> on May 25, Binance revealed that its investigations team actively worked with US authorities to disrupt the illicit revenue-generating activities of four now-sanctioned entities based in North Korea.</p>



<p>The coordinated efforts were undertaken in compliance with lawfully served warrants and close cooperation with law enforcement, according to Binance.</p>



<p>The Department of the Treasury&#8217;s Office of Foreign Assets Control (OFAC) had previously <a href="https://home.treasury.gov/news/press-releases/jy1498" target="_blank" rel="noopener">declared</a> sanctions against four entities and one individual involved in malicious cyber activities supporting the Democratic People&#8217;s Republic of Korea (DPRK) Government.</p>



<div class="cn-block-related-link">

    <svg class="cn-block-related-link__icon icon" aria-hidden="true">
        <use xlink:href="#icon-bookmark"></use>
    </svg>

    
        <span class="cn-block-related-link__prefix">
            You might also like:
        </span>

    
    
        <a href="https://crypto.news/binance-delists-popular-pairs-with-australian-dollar-due-to-regulatory-hurdle/" class="cn-block-related-link__link">
            Binance delists popular pairs with Australian dollar due to regulatory hurdle        </a>

    
</div>


<p>The entities targeted by the sanctions were the Chinyong Information Technology Cooperation Company, Pyongyang University of Automation, the 110th Research Center, and the Technical Reconnaissance Bureau.</p>



<p>The Chinyong company is known to employ thousands of highly skilled IT workers worldwide, allegedly<a href="https://crypto.news/us-imposes-sanctions-on-individuals-for-aiding-north-korea/"> involved in generating revenue</a> to support unlawful weapons of mass destruction (WMD) and ballistic missile programs.</p>



<p>The workers are believed to utilize fake or stolen identities to secure overseas IT positions, including roles in the technology and cryptocurrency sectors. The payments received for their work are subsequently laundered back to North Korea through crypto exchanges.</p>



<p>The OFAC sanctions also encompassed an individual named Kim Sang Man, who is suspected of being involved in salary payments to family members of Chinyong&#8217;s overseas worker delegations. Kim also allegedly received $2 million worth of cryptocurrency by selling IT equipment to DPRK-affiliated teams in China and Russia.</p>



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe title="The Lazarus Group: How Intercontinental Hackers Stole Over 1 Billion Dollars" width="1020" height="574" src="https://www.youtube.com/embed/PwX6Y_FZj38?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
</div></figure>



<p>The Technical Reconnaissance Bureau, another sanctioned entity, is recognized as a key driver of the DPRK&#8217;s offensive cyber tactics and tools. It oversees various departments, including those associated with the Lazarus Group.</p>



<p>The notorious <a href="https://crypto.news/lazarus-group-may-be-responsible-for-harmony-bridge-hack/">Lazarus Group </a>has been implicated in numerous cyberattacks on cryptocurrency and blockchain projects in recent years. It was responsible for the <a href="https://crypto.news/u-s-treasury-bans-tornado-cash-citing-links-to-lazarus-hacking-group/">$620 million hack</a> on the Ronin Bridge of Axie Infinity in March 2022.</p>



<p>Binance&#8217;s involvement in combating cybercrime extends beyond this recent operation. In late April, Binance CEO Changpeng Zhao revealed that the exchange had successfully recovered $5.8 million from the Lazarus Group after identifying suspicious transactions involving ill-gotten funds.</p>



<div class="cn-block-related-link">

    <svg class="cn-block-related-link__icon icon" aria-hidden="true">
        <use xlink:href="#icon-bookmark"></use>
    </svg>

    
        <span class="cn-block-related-link__prefix">
            Read more:
        </span>

    
    
        <a href="https://crypto.news/bitcoin-analyst-issues-warning-dip-below-24k-could-be-inevitable/" class="cn-block-related-link__link">
            Bitcoin analyst issues warning, dip below $24k could be inevitable        </a>

    
</div>

Binance assists US in freezing $4.4m tied to North Korea

crypto.news

Ďalšie články zverejnené 25. 5. 2023

ELYSIA Listing Celebration Giveaway Campaign Winners Announcement

Solana Foundation Integrates AI with ChatGPT Plugin

Web3 Game ‘Stella Fantasy’ expands Partnership in Blockchain, Gaming Platform, and Community in l...

Japan to Implement Crypto AML Measures in June: Report

Ron DeSantis Launches Presidential Bid with Elon Musk

Binance Now Supports Polygon NFTs, Crypto Daily TV 25/5/2023

Pripojte sa k nášmu bezplatnému bulletinu a získajte denné aktualizácie kryptomien!