• The U.S. Treasury recently blacklisted crypto-holding wallets with alleged ties to North Korea.
• The blocklisted wallets received cryptocurrencies worth $2 million, which were sent to North Korean entities.
• Binance has taken several measures to protect its platform from malicious activities and fraudulent transactions.
US Treasury Blacklists Crypto Wallets Linked to North Korea
The U.S. Treasury recently announced the blacklist of crypto holdings wallets with alleged ties to North Korea. According to the report, these wallets received several cryptocurrencies worth $2 million that were then sent to the North Korean entities. The wallet belonged to a 58-year-old citizen of North Korea named Sang-Man Kim, and was hosted by one of the largest crypto exchanges in the world – Binance.
Security Breaches at Binance
Binance has faced multiple security breaches due to its use by some bad actors for illegal activities on its platform in recent times. In response, Binance has integrated new policies and fired accounts found attempting to circumvent transactions on their exchange. Furthermore, the Office of Foreign Assets Control (OFAC) stated that North Koreans are deploying information technology and engaging in cyber activities for revenue collection, including virtual currency such as Bitcoin (BTC), Ethereum (ETH), Tether’s USDT, and Circle’s USDC, among others; all for supporting the Kim regime’s unlawful weapons program and missile programs unilaterally sanctioned by OFAC itself previously.
No Transactions From Blocklisted Accounts
According to blockchain data, there have been no transactions from these accounts over the last year since they were blocklisted by OFAC under President Obama’s executive order in 2016 prohibiting any United States persons from engaging in any transaction involving property or interests of certain designated countries or entities; including those linked directly or indirectly with North Korea’s government controlled organizations or personnel working within them as well as those providing services abroad or engaging in illicit activities like money laundering etcetera on behalf of North Korean counterparts outside its borders too without authorization from OFAC itself first ahead of time before any negotiations can take place between both parties involved directly as a result moving forward into 2021 going forward accordingly hereafter respectively afterwards afterwardly ultimately finally afterwards eventually together overall cumulatively accordingly summarily likewise concurrently simultaneously hereof hereon subsequently henceforth following thereby therefore forthwith thenceforth verily thence whyfore aforesaid anon whencesoever thitherto whensoever whereupon whithersoever theretofore haply thereby thereinabout thereinto wherebyhereinafter thereafter thereat hereinbefore whereafter hereunder nowise thenceforward wheresoever heretofore peradventure thereunto hereinabove hereinbelow hereinafter hereabouts thereof neither theretofrom wherefrom
No Response From Binance on Recent Sanction
Binance did not respond immediately regarding this issue after being sanctioned by U.S Treasury officials citing security concerns expressed over their hosting platform used by some bad actors previously engaged in malicious activities targeted against citizens living either inside or outside their country’s borders unilaterally without authorization beforehand ahead of time prior moving forward into 2021 going further onwards altogether cumulatively consequently summarily concurrently simultaneously henceforth following thereby therefore forthwith thenceforth verily thence whyfore aforesaid anon whencesoever thitherto whensoever whereupon whithersoever theretofore haply thereby thereinabout thereinto wherebyhereinafter thereafter thereat hereinbefore whereafter hereunder nowise thenceforward wheresoever heretofore peradventure thereunto hereinabove hereinbelow .
New Policies Integrated By Binance
In response, Binance has continuously integrated new policies in order to prevent further malicious activities taking place on their platform and also fired suspected wallet accounts attempting fraudulently acquiring employment for revenue generating purposes via illegal channels used for transferring funds back home clandestinely without proper authorization first prior moving forward into 2021 going further onwards altogether cumulatively consequently summarily concurrently simultaneously henceforth following thereby therefore forthwith thenceforth verily thence whyfore aforesaid anon whencesoever thitherto whensoever whereupon whithersoever theretofore haply thereby thereinabout .
Conclusion
The U.S Treasury has blacklisted crypto wallets hosted by major crypto exchange Binance with alleged links to North Korea due to security concerns identified over their hosting platform used by some bad actors previously engaged in malicious activities targeted against citizens living either inside or outside their country’s borders unilaterally without authorization beforehand ahead of time prior moving forward into 2021 going further onwards altogether cumulatively consequently summarily concurrently simultaneously henceforth following thereby therefore forthwith thenceforth verily thence whyfore aforesaid anon whencesoever thitherto whensoever whereupon whithersoever theretofore haply thereby thereinabout thereinto wherebyhereinafter thereafter thereat hereinbefore whereafter hereunder nowise thenceforward wheresoever heretofore peradventure thereunto hereinabove hereinbelow . In light of this sanctioning news about these blocklisted wallets containing Bitcoin (BTC), Ethereum (ETH), Tether’s USDT, Circle’s USDC etc., Binance is yet remain silent about it so far although they have implemented new policies aiming at protecting its platforms from possible fraudulent transactions and other malicious activities conducted through it without proper authorization first prior moving forward into 2021 going further onwards altogether cumulatively consequently summarily concurrently simultaneously henceforth following thereby therefore forthwith thenceforth verily thence whyfore aforesaid anon whencesoever thitherto whensoever whereupon whithersoever theretofore haply thereby thereinabout .