US Treasury Department Adds Three ETH Wallet Addresses To Sanctions
The Treasury Department of the United States has incorporated three addresses of Ethereum wallet to sanctions due to the allegation that they were linked to the team of hackers that was responsible for stealing up to $600M wroth in cryptocurrency from Ronin sidechain of Axie Infinity – a game based on NFT (non-fungible token).
In an update of Friday, the OFAC (Office of Foreign Assets Control) at the Treasury Department added three Ethereum addresses to the Specially Designated Nationals sanctions designed by it for the Lazarus Group of North Korea. In March, the authorities from the United States taking into account the Cybersecurity and Infrastructure Security Agency, and the Federal Bureau of Investigation, have aimed at the respective group for its reported role in stealing approximately 173,600 ETH (Ether) as well as 25.5M USDC (USD Coin) out of the Ronin sidechain.
The worth of the stolen tokens was above $600M at the very time. The department indicated in its Twitter post on Friday that the sanctioned addresses were entered into the list to try to put a stop to the North Korean efforts to dodge the sanctions implemented on the behalf of the United Nations and the United States. It is shown by the blockchain records that a minimum amount of one wallet address linked to hackers of Ronin transacted funds to Tornado and other providers of crypto mixing facilities.
The official Twitter post shared by the Treasury Department noted that the respective wallet addresses were included in the SDN Listing specified for Lazarus Group. It added that the dependence of the DPRK on illegal operations such as cybercrime has been witnessed to make a revenue whereas attempting to evade the restrictions. Back in January, it was reported by Chainalysis that an amount of nearly $400M in crypto was stolen by North Korea in 2021 by systematically planning cyberattacks.
It means that the theft of Ronin could denote its biggest tug up till now. Illegitimate funds having a connection with the hacking teams from the secluded country were fundamentally in Bitcoin (20%), Ether (58%), as well as the rest of the tokens (22%). The inclusion of these addresses counts to be the exclusive move taken for the identification of the digital assets implemented on the behalf of the OFAC for restricting the sanctioned authorities from getting funding.
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