U.S. Treasury Sanctions Crypto Wallets Linked to North Korean Government

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) has sanctioned a group of crypto wallets allegedly linked to the North Korean government, CoinDesk reported. OFAC said the blacklisted wallet, belonging to a 58-year-old North Korean citizen named Sang Man Kim, was hosted by Binance and received more than $2 million worth of various cryptocurrencies, which were then sent to North Korean entity. According to blockchain data, there have been no transactions between these addresses in the past year. Binance has previously come under fire for allegedly helping bad actors evade sanctions. Tigran Gambaryan, head of financial crime compliance at Binance, told CoinDesk in April that the exchange has since implemented strict policies to weed North Korean actors from its platform.