OFAC
U.S. Treasury Sanctions North Korean-Owned Binance Wallets; Says Entities Used Funds to Support WMD Programs
The Binance-hosted wallets received more than $2 million worth of various cryptocurrencies that were then sent on to North Korean entities, OFAC alleged
U.S. Sanctions Watchdog Alleges Russia-Linked Crypto Wallet Processed $5M
An Irish national helped wealthy Russians evade sanctions and hide money in UAE, OFAC said Friday.
Poloniex Agrees to $7.6M Settlement With OFAC
Poloniex LLC, a U.S. entity previously affiliated with the Poloniex crypto exchange, will remit $7.59 million to settle sanctions violation allegations with the U.S. Treasury Department's Office of Foreign Asset Control (OFAC). STORM Partners Managing Partner Sheraz Ahmed reacts to this development, saying, "A lot of the exchanges are going to be looking back at what they are doing and this is an opportunity for them to come clean."
Crypto Exchange Poloniex Agrees to $7.6M Fee to Settle Sanctions Violation Charges
Poloniex LLC, a U.S. entity previously affiliated with the Poloniex crypto exchange, will remit $7.59 million to settle sanctions violation allegations with the U.S. Treasury Department's Office of Foreign Asset Control (OFAC), the sanctions watchdog said Monday. CoinDesk Global Policy and Regulation Managing Editor Nikhilesh De discusses the latest in crypto regulation.
Crypto Exchange Poloniex Agrees to $7.6M Fee to Settle Sanctions Violation Charges
Poloniex allegedly did not maintain proper know-your-customer practices between 2014 and 2019.
U.S. Sanctions 3 North Koreans for Supporting Hacking Group Known for Crypto Thefts
The three were engaged in crypto activities themselves, and the U.S. Treasury Department says they were tied to the networks of DPRK entities laundering stolen crypto or moving illicit funds for that country.
How OFAC’s Tornado Cash Sanctions Violate U.S. Citizens’ Constitutional Rights
In filing a “friend of the court” brief, the Blockchain Association argues that financial privacy is fundamental – even in the digital realm.
Latest Ethereum Blocks Suggest Validators Are Reversing Censorship
Noncensoring relays such as Agnostic and ultra sound are delivering more data blocks on Ethereum than Flashbots, the one-time king of MEV-delivering relays.
Tornado Cash Fork, Privacy Pools, Deployed on Optimism Testnet
Privacy Pools uses zero-knowledge proofs to prove that funds in anonymous transactions are not linked to criminal activity, such as North Korea’s $625 million hack on Axie Infinity.
Crypto Crime Hit All-Time High of $20.6B in 2022: Chainalysis
Kim Grauer, the blockchain sleuthing firm's head of research, told CoinDesk TV sanctioned activity and hacking were the driving forces behind the rise in illicit transaction volumes last year.
