U.S. Shuts Down North Korean Crypto Money Laundering Network

The U.S. Treasury Department on Tuesday said it had shut down a North Korean money laundering network that used crypto to clean millions of dollars for the hermit kingdom, a global leader in crypto crime.

A front company in the UAE called Green Alpine Trading, LLC, had been converting crypto into cash for North Korea, according to a press release by the Treasury’s Office of Foreign Assets Control (OFAC). The U.S. government’s sanctions wing stuck that company on its blacklist as well as two Chinese nationals who had been participating in the network since 2022.

The United Arab Emirates partnered in the takedown, according to the press release. It is not clear what’s become of the two now-sanctioned Chinese nationals, Lu Huaying and…

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