Fun

US Treasury’s OFAC Adds 3 ETH Addresses Linked to North Korean Cybercrime Group to SDN List

News Feed - 2022-04-25 12:04:20

US Treasury"s OFAC Adds 3 ETH Addresses Linked to North Korean Cybercrime Group to SDN List


The Office of Foreign Asset Control (OFAC) has added three ethereum addresses to its Specially Designated Nationals And Blocked Persons List (SDN). OFAC alleges the ether addresses are controlled by the Lazarus Group, a cybercrime group that is associated with North Korea. Lazarus Group Behind Axie Infinity Heist


The U.S. Treasury Department’s OFAC has added three ethereum addresses that are allegedly associated linked with the Lazarus Group cybercrime syndicate to its SDN list. The addition of the addresses comes a few weeks after U.S. authorities accused the Lazarus Group and North Korean hackers of being behind the $620 million Axie Infinity heist.


As previously reported by Bitcoin.com News, after reports of the hacking emerged, the U.S. government claimed the cybercrime group was part of a group of hackers that spearheaded the Ronin bridge attack that resulted in the siphoning of over 173,000 ethereum tokens. Also, prior to the department’s latest update, the ethereum mixing project Tornado Cash revealed it was blocking OFAC sanctioned addresses from using the mixer. North Korea Sanctions Evasion


In a statement released via Twitter on April 22, the U.S. Treasury Department suggested the blocking of access to funds at the designated addresses would deprive the sanctions-evading North Korea of a vital source of revenue. The statement explained: OFAC added 3 virtual currency wallet addresses to the SDN Listing for Lazarus Group. The DPRK [North Korea] has relied on illicit activities like cybercrime to generate revenue while trying to evade U.S. & UN sanctions.


While authorities in the U.S. insist the blockade will stop North Korea from using the stolen crypto, an earlier report by Bitcoin.com News suggested the cybercriminals would still be able to move the funds by simply transferring the funds to an unsanctioned ether address.


Meanwhile, in addition to directly blocking the three ethereum addresses, the U.S. Treasury Department statement warned against transacting with these addresses. The statement suggested that those doing so would become a target of U.S. sanctions. Tags in this story Axie Infinity Exploit, ethereum mixing, Lazarus Group, Ronin attack, Specially Designated Nationals And Blocked Persons List, Tornado cash, UN sanctions, US sanctions, US Treasury


What are your thoughts on this story? Tell us what you think in the comments section below. Terence Zimwara


Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route. IMF: India Is on the Frontline of Digital Currencies — Especially How It Handles Crypto Risks REGULATION | 18 hours ago US Lawmakers Call for More Oversight of Cryptocurrency"s Environmental Impacts REGULATION | 21 hours ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleJack Dorsey Muses on Social Media ‘Takeover,’ Ethereum Weaknesses; Plus the Latest in Crypto Mining — Bitcoin.com News Week in Review Next articleDerivatives Exchange Injective Pro Launches Bored Ape NFT Floor Price Perpetuals Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItCentral Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year


The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.NFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales Bitcoin ATM Operator Indicted in New York Allegedly Running Illegal Business Attracting Criminals Australia to List Bitcoin ETF After 4 Clearinghouse Participants Commit to Meet Stringent Margin Terms Iran to Increase Penalties for Unauthorized Cryptocurrency Mining

News Feed

Ethereum Attempts First Major Horizontal Reclaim In Months – Can Bulls Hold the Line?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
State Street eyes blockchain leap with stablecoin, deposit token: Report
Derek Andersen3 hours agoState Street eyes blockchain leap with stablecoin, deposit token: ReportThe global asset manager may be on its way to the forefront of settlement technology.2980 Total viewsListen to article 0:00
The Ongoing Effort to Free Ross — Ulbricht’s Clemency Petition Closes in on Half a Million Signatures
The Ongoing Effort to Free Ross — Ulbricht"s Clemency Petition Closes in on Half a Million Signatures As the end of 2021 nears, Ross Ulbricht remains in prison as he continues to
Bithumb Wants User-Created DEXs With Its New Blockchain Ecosystem
South Korean crypto startup Bithumb is launching an “exchange-as-a-service” platform based on its new blockchain. Announced Wednesday, the exchange said Bithumb Chain wi
Helen Partz10 hours agoNasdaq halts launch of cryptocurrency custody serviceNasdaq said it remains committed to digital asset business development and will be monitoring market events in the near future.6293 Total views1
Australia’s peak crypto lobby group drops ‘blockchain’ from name
Jesse Coghlan5 hours agoAustralia’s peak crypto lobby group drops ‘blockchain’ from nameBlockchain Australia is now the Digital Economic Council of Australia (DECA) with a membership category for banks, most of whi
Vanguard names Bitcoin-friendly former BlackRock exec as new CEO
Brayden Lindrea5 hours agoVanguard names Bitcoin-friendly former BlackRock exec as new CEOSalim Ramji spoke highly of Bitcoin and blockchain technology when overseeing BlackRock’s spot Bitcoin ETF filing.1985 Total vie
9 Trillion vs. 100 Trillion: Billionaire Mike Novogratz Asks Which Cryptocurrency Will Win the Payments Race
9 Trillion vs. 100 Trillion: Billionaire Mike Novogratz Asks Which Cryptocurrency Will Win the Payments Race On December 31, billionaire investor Mike Novogratz
Former SEC official David Hirsch says he is not joining Pump​.fun
Vince Quill6 hours agoFormer SEC official David Hirsch says he is not joining Pump​.funRumors have been circulating that the recently retired SEC veteran is taking on a private role in the digital asset sector.1250 Tot
Old Trust Wallet iOS vulnerability from 2018 may still affect some accounts
Christopher Roark11 hours agoOld Trust Wallet iOS vulnerability from 2018 may still affect some accountsTrust Wallet accounts created between Feb. 5 and Aug. 21, 2018 on iOS devices may still be vulnerable to exploits, a
Tristan Greene5 hours agoLaw professor says blockchain tech could ‘revolutionize’ copyright officesAccording to the research, blockchain provides several game-changing benefits for intellectual property licensing and
Brazilian Tax Authority RFB Registers New Record of Almost 1.5 Million Brazilians Investing in Crypto in September
Brazilian Tax Authority RFB Registers New Record of Almost 1.5 Million Brazilians Investing in Crypto in September The Brazilian Tax Authority RFB registered a new record in the nu