US sanctions target three in China for laundering North Korean cyber hauls
Source: Reuters
US sanctions target three in China for laundering North Korean cyber hauls
Reuters
Mon, April 24, 2023 at 10:41 AM EDT·2 min read
WASHINGTON (Reuters) -The United States on Monday announced sanctions on three people it said were involved in laundering virtual currency stolen by North Korean hackers to help finance Pyongyang's weapons programs.
A U.S. Treasury statement said the three were a China-based virtual currency trader, another currency trader based in Hong Kong, and a representative of North Korea's Korea Kwangson Banking Corp, who recently relocated to Dandong, China.
China-based trader Wu Huihui facilitated the conversion of virtual currency stolen by North Korea's cybercriminal syndicate, the Lazarus Group, the statement said. The Hong Kong-based trader, Cheng Hung Man, worked with Wu to remit payments in exchange for virtual currency, it said.
Also targeted was Sim Hyon Sop for acting on behalf of the Kwangson Banking Corp, an entity previously designated for sanctions by the United States.
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Read more: https://news.yahoo.com/us-sanctions-target-three-china-144120913.html
