According to BlockBeats news, on December 18, the U.S. Treasury Department revealed that it had dismantled a North Korean cryptocurrency money laundering network that laundered millions of dollars for North Korea, a major player in global crypto crime. A press release from the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) stated that a UAE-based front company called Green Alpine Trading, LLC was found to be converting cryptocurrencies into cash to fund North Korea.
The U.S. government’s sanctions arm has blacklisted the company and sanctioned two Chinese nationals involved in the network since 2022. The UAE cooperated with the United States in the operation, the release said. The current status of the two sanctioned Chinese citizens – Lu Huaying and Zhang Jian – is unclear.
According to the press release, they collaborated with North Korean “agent” Sim Hyon Sop to engage in illegal activities.
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