The U.S. Treasury Department identified three people allegedly supporting North Korea's infamous Lazarus Group, a hacking team known for crypto thefts. Two of the people provided OTC trading services for crypto transactions. jesseahamilton reports
for supporting the Lazarus Group, a North Korean hacking team known for crypto thefts that U.S. authorities say have been used to support the nation's weapons program.
Two of the sanctioned individuals, Cheng Hung Man and Wu Huihui, were over-the-counter traders who facilitated crypto transactions for Lazarus, the agency said, while a third person, Sim Hyon Sop, provided other financial support. The Treasury investigation identified several bitcoin addresses associated with Wu, while tying an ether, arbitrum and Binance chain address to Sim.
“The DPRK continues to exploit virtual currency and extensive illicit facilitation networks to access the international financial system and generate revenue for the regime,” said Brian Nelson, the department's undersecretary for terrorism and financial intelligence, in a statement, referring to the official name of North Korea.
The Lazarus Group has been accused of mounting a multibillion-dollar campaign against the crypto world, the proceeds of which are said to fund North Korea's weapons program. The Treasury says the hacker group is controlled by North Korea's intelligence organization, the Reconnaissance General Bureau, and it was behind theUPDATE :Adds detail on digital asset addresses.
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