![]() Furthermore, any foreign financial institution that knowingly facilitates a significant transaction or provides significant financial services for any of the individuals designated today could be subject to U.S. In addition, persons that engage in certain transactions with the individuals designated today may themselves be exposed to designation. persons or within the United States (including transactions transiting the United States) that involve any property or interests in property of blocked or designated persons. OFAC's regulations generally prohibit all dealings by U.S. persons must be blocked and reported to OFAC. Treasury supports the concurrent law enforcement-related actions taken against these and additional individuals and accounts.Īs a result of today's action, all property and interests in property of these individuals that are in the United States or in the possession or control of U.S. Attorney's Office for the District of Columbia and the Internal Revenue Service's Criminal Investigation Division. OFAC closely coordinated today's action with the U.S. Additionally, they are being designated pursuant to E.O. ![]() Tian and Li are being designated pursuant to Executive Order (E.O.) 13694, as amended by E.O. Tian also transferred nearly $1.4 million dollars' worth of Bitcoin into prepaid Apple iTunes gift cards, which at certain exchanges can be used for the purchase of additional Bitcoin. Tian ultimately moved the equivalent of more than $34 million of these illicit funds through a newly added bank account linked to his exchange account. Lazarus Group cyber actors used the private keys to steal virtual currencies ($250 million dollar equivalent at date of theft) from this exchange, accounting for nearly half of the DPRK's estimated virtual currency heists that year. In April 2018, an employee of the exchange unwittingly downloaded DPRK-attributed malware through an email, which gave malicious cyber actors remote access to the exchange and unauthorized access to customers' personal information, such as private keys used to access virtual currency wallets stored on the exchange's servers. Tian and Li transferred the currency among addresses they held, obfuscating the origin of the funds. Tian and Li received from DPRK-controlled accounts approximately $91 million stolen in an April 2018 hack of a cryptocurrency exchange (referred to hereinafter as "the exchange"), as well as an additional $9.5 million from a hack of another exchange. The Democratic People's Republic of Korea (DPRK) trains cyber actors to target and launder stolen funds from financial institutions. "The United States will continue to protect the global financial system by holding accountable those who help North Korea engage in cyber-crime." "The North Korean regime has continued its widespread campaign of extensive cyber-attacks on financial institutions to steal funds," said Secretary Steven T. Tian and Li are also being designated for having materially assisted, sponsored or provided financial, material, or technological support for, or goods or services to or in support of, Lazarus Group. Specifically, OFAC is designating 田寅寅, Tian Yinyin (Tian), and 李家东, Li Jiadong (Li), for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, a malicious cyber-enabled activity. This cyber intrusion is linked to Lazarus Group, a U.S.-designated North Korean state-sponsored malicious cyber group. Department of the Treasury's Office of Foreign Assets Control (OFAC) today sanctioned two Chinese nationals involved in laundering stolen cryptocurrency from a 2018 cyber intrusion against a cryptocurrency exchange. ![]() Treasury Sanctions Individuals Laundering Cryptocurrency for Lazarus Group
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