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UAE Company Caught in Crypto Laundering Scheme Supporting North Korea’s WMDs
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has taken a significant step by imposing sanctions against two individuals and an associated UAE company linked to North Korea’s cryptocurrency money laundering operation.
As per reports, Lu Huaying and Zhang Jian used Green Alpine Trading, LLC, a United Arab Emirates-based company as an intermediary front. This operation was managed by Sim Hyon Sop, the board of directors for North Korea’s Korea Kwangson Banking Corp (KKBC).
Source: coinpedia.org
