Binance Freezes $4.4 Million in Crypto Related to North Korean Hackers
Binance has made an announcement regarding the confiscation of around $4.4 million worth of cryptocurrency that is believed to belong to fronts associated with North Korean organizations operating both within the country and internationally. This action is a result of the sanctions imposed on North Korea, which have compelled its agents to resort to illicit means of generating funds, including the theft of cryptocurrencies.
The seizure of these funds underscores Binance’s commitment to preventing illicit activities within the cryptocurrency space and complying with regulatory measures. By taking this action, the exchange aims to disrupt the flow of funds to entities associated with North Korea and contribute to global efforts in combating illicit financial activities.
We are proud to have assisted US law enforcement in seizing $4.4M and freezing accounts linked to North Korean organized crime.
Kudos to our law enforcement partners and the Binance Investigations team for their unwavering commitment to combating crime worldwide.
— Binance (@binance) May 24, 2023
