Treasury sanctions North Korean-linked UAE front company and two Chinese nationals for laundering crypto proceeds.
Treasury Targets Crypto Money Laundering Network
The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions on Green Alpine Trading, a UAE-based front company that converted crypto into cash for North Korea.
Chinese Nationals and DPRK Agent Sanctioned
Two Chinese nationals and a DPRK agent were named in the network, which has operated since 2022, laundering funds from illicit schemes.
UAE Collaborates in Takedown
The UAE partnered with the U.S. in dismantling the operation. North Korea remains a leading state actor in crypto crimes, allegedly funding nuclear programs through stolen crypto.
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