Amid the rise of digital currency services, the US Department of the Treasury’s Office of Foreign Assets Control published a cautionary tale on December 30, 2020, discussing a recent settlement with BitGo, Inc., a California-based technology company that facilitates digital currency transactions and provides non-custodial digital wallet management services.
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US Department of the Treasury’s Office of Foreign Assets Control (OFAC)
OFAC Sanctions North Korean Crypto Hackers
By Scott H. Kimpel on
Posted in Crypto Exchanges, Regulatory
On September 13, 2019, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions targeting three North Korean state-sponsored malicious cyber groups responsible for North Korea’s malicious cyber activity on critical infrastructure. As part of the sanctions, OFAC alleges that the entities conducted successful operations targeting more than 16 organizations across 11 countries, including the SWIFT messaging system, financial institutions and cryptocurrency exchanges.…
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