US Takes Action Against North Korean Cryptocurrency Laundering Scheme

A North Korean banker has been indicted and two cryptocurrency traders have been sanctioned for their alleged involvement in a money laundering scheme to generate revenue for North Korea's regime. The scheme involved laundering stolen cryptocurrency for the North Korea-based Lazarus Group, evading sanctions put in place by the US Treasury Department to stop the country's ballistic missile programs. North Korea has generated revenue through cryptocurrency thefts and other schemes since at least 2017, stealing an estimated $1.7 billion worth of cryptocurrency last year alone.