OFAC and South Korea’s Ministry of Foreign Affairs Sanction Entities Associated with North Korean Hacking and IT Worker Crypto Payment Schemes - Chainalysis
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On May 23, 2023, the U.S. Treasury’s Office of Foreign Assets Control (OFAC) and South Korea’s Ministry of Foreign Affairs (MOFA) announced sanctions against several entities and individuals associated with illicit North Korean revenue generation schemes.
Three North Korean organizations were sanctioned for their role in North Korean hacking activity, including the 110th Research Center and its parent agency, the Technical Reconnaissance Bureau. Together, these two organizations oversee and support the hacking activity of units like Lazarus Group, which are responsible for much of the cryptocurrency hacking activity we’ve tracked over the last few years. Notably, OFAC states in its press release that the 110th Research Center was behind the 2013 DarkSeoul malware attack on South Korean government agencies, confirming the long held suspicions of many in the cybersecurity community.
OFAC and MOFA also sanctioned Chinyong Information Technology Cooperation Company, also known as Jinyong IT Cooperation Company, and its employee, Sang Man …
Three North Korean organizations were sanctioned for their role in North Korean hacking activity, including the 110th Research Center and its parent agency, the Technical Reconnaissance Bureau. Together, these two organizations oversee and support the hacking activity of units like Lazarus Group, which are responsible for much of the cryptocurrency hacking activity we’ve tracked over the last few years. Notably, OFAC states in its press release that the 110th Research Center was behind the 2013 DarkSeoul malware attack on South Korean government agencies, confirming the long held suspicions of many in the cybersecurity community.
OFAC and MOFA also sanctioned Chinyong Information Technology Cooperation Company, also known as Jinyong IT Cooperation Company, and its employee, Sang Man …