Chainalysis Maps DPRK Crypto Cash-Outs After OFAC Sanctions

Chainalysis Maps DPRK Crypto Cash-Outs After OFAC Sanctions

Chainalysis mapped out a DPRK-tied network that helped North Korean actors cash out millions through the sanctioned Garantex exchange.

Chainalysis Maps Russian Intermediary Network Facilitating North Korean Crypto Cash Outs

TL;DR Chainalysis identified a network of Russian intermediaries that helped North Korean IT workers convert millions of dollars in cryptocurrency into cash. The United States sanctioned ten individuals and one entity for participating in operations linked to North Korean programs that finance weapons development. Chainalysis traced transfers to the Russian exchange Garantex and approximately $5.5 million in transactions handled by two sanction…

Chainalysis traces North Korean crypto cash-outs through Garantex

The exposure of North Korean crypto cash-outs highlights the need for increased scrutiny and compliance in global crypto exchanges and hiring practices.

North Korean Crypto Schemes Exposed by Chainalysis Research

Chainalysis uncovers North Korean agents using crypto jobs to fund the regime. This revelation raises alarms over crypto's role in illicit financing.