US shuts down North Korean crypto laundering network

The U.S. Treasury’s Office of Foreign Assets Control has imposed sanctions on two individuals and a company in the United Arab Emirates for facilitating North Korea’s illicit use of digital assets.

The sanctions target Lu Huaying and Zhang Jian, both based in the UAE, and Green Alpine Trading, LLC, a front company linked to a broader money-laundering scheme.

These sanctions and actions hope to disrupt a network allegedly funneling millions of dollars to North Korea’s weapons of mass destruction and ballistic missile programs, according to a U.S. government release.

North Korea is known to exploit digital assets and cybercrime to fund its nuclear weapons and missile development. The regime employs IT workers

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