Regulation

U.S. Treasury Department Connects Lazarus Group and Tornado Cash to North Korean Nuclear Weapons Programs

The U.S Treasury Division is redesignating the sanction it imposed in opposition to crypto mixing service Twister Money earlier this yr as a result of protocol allegedly having ties to North Korea’s nuclear weapons program.

The Treasury division’s Workplace of Overseas Belongings Management (OFAC) introduced earlier this yr that Individuals are barred from utilizing Twister Money as a result of it probably posed nationwide safety dangers. 

The sanction is now getting a brand new designation because the US authorities goals to hamper the development of North Korea’s nuclear weapons and deter cybercrimes.

In a statement, the Treasury division says that Twister Money allows illicit cyber actions that finally help North Korea’s weapons of mass destruction (WMD) program. It says that Lazarus Group, a hacker group backed by the North Korean (DPRK) authorities, makes use of the platform to launder the proceeds of their crimes.

“OFAC concurrently delisted and redesignated Twister Money beneath E.O. 13722 and E.O. 13694, as amended, for its position in enabling malicious cyber actions, which finally help the DPRK’s WMD program. Efficient instantly, the August 8, 2022 designation of Twister Money is not operative, and it’s wholly changed by at this time’s motion.”

In April, the Treasury division additionally sanctioned three Ethereum (ETH) wallets linked to the group believed to be behind the Ronin Community assault in March.

Do not Miss a Beat – Subscribe to get crypto e mail alerts delivered on to your inbox

Examine Worth Motion

Comply with us on Twitter, Facebook and Telegram

Surf The Each day Hodl Combine

Featured Picture: Shutterstock/sergeymansurov



Source link

Related Articles

Leave a Reply

Your email address will not be published.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

Back to top button