The U.S. Treasury blacklisted the crypto-holding wallets with alleged ties to North Korea.
Binance has faced several security breaches recently.
On May 23, the U.S. Treasury announced the blacklist of crypto holdings wallets with alleged ties to the North Korean government. According to the report, the Binance-hosted wallets received several cryptocurrencies worth $2 million that were then sent to the North Korean entities.
Treasury’s Office of Foreign Assets Control (OFAC) has blocklisted the crypto wallets that contain Bitcoin (BTC), Ethereum (ETH), Tether’s USDT, and Circle’s USDC. The wallet belonged to Sang-Man Kim, a 58-year-old North Korean citizen. The wallets were hosted by the world’s largest crypto exchange, Binance. Moreover, the question raised was whether Binance actively controlled the wallets hosted by the exchange that any user could acquire.
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According to the blockchain data, there have been no transactions from these accounts
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