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US Officials Sanction Crypto Wallets Allegedly Tied to North Korean Government on Binance Exchange

The US Treasury's Office of Foreign Assets Control (OFAC) has sanctioned several crypto wallets allegedly linked to the North Korean government. The blacklisted wallets, which contained bitcoin, ether, Tether's USDT, and Circle's USDC, were owned by a North Korean citizen named Sang Man Kim and hosted by Binance.

However, Binance did not actively control the wallets, which were automatically generated and available to any user. The OFAC press release stated that North Korea uses cyber activities and IT workers to fraudulently obtain employment and generate revenue, including virtual currency, to support its regime and unlawful weapons programs.

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