OFAC Sanctions North Korean VC Traders, Financial Facilitators
The U.S. this week sanctioned three people for supporting North Korea through “illicit financing and malicious cyber activity,” the Office of Foreign Assets Control said. Wu Huihui is a China-based based virtual currency trader who helps convert virtual currency stolen…
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by North Korean “actors” working with the U.S.-sanctioned Lazarus Group (see 1909130039), and Cheng Hung Man is a Hong Kong based virtual currency trader who works with Wu to “remit payment to companies in exchange for virtual currency.” OFAC also sanctioned China-based Sim Hyon Sop for working for U.S.-sanctioned Korea Kwangson Banking Corp. (see 1907230027) and coordinating “millions of dollars in financial transfers” for North Korea.