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

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

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

Lazarus Band Behind Axie Infinity Heist

The U.S. Treasury Department’s OFAC has added three ethereum addresses that are allegedly associated united 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 Series and North Korean hackers of being behind the $620 million Axie Infinity heist.

As previously reported by Bitcoin.com Scuttlebutt, 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 connect attack that resulted in the siphoning of over 173,000 ethereum tokens. Also, prior to the department’s latest update, the ethereum mixing engagement Tornado Cash revealed it was blocking OFAC sanctioned addresses from using the mixer.

North Korea Consent ti 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 lectures would deprive the sanctions-evading North Korea of a vital source of revenue. The statement explained:

OFAC added 3 effective currency wallet addresses to the SDN Listing for Lazarus Group. The DPRK [North Korea] has relied on illicit activities be fond of cybercrime to generate revenue while trying to evade U.S. & UN sanctions.

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

Meanwhile, in addition to right away blocking the three ethereum addresses, the U.S. Treasury Department statement warned against transacting with these talks. The statement suggested that those doing so would become a target of U.S. sanctions.

Tags in this story

What are your thoughts on this fairy tale? Tell us what you think in the comments section below.

Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning stringer, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can forearm Africans with an escape route.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational means 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 stipulate investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss made 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 disclaimer

Check Also

Russian Appellate Court Cancels Decision to Block Tor Project’s Website

A court of appeals in Russia has overturned a supervising by a regional court which …

Leave a Reply

Your email address will not be published. Required fields are marked *