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Exchange News- U.S. Treasury Blacklisted the Binance-hosted wallets.
- The exchange responded to the U.S. Treasury account seizure.
Binance, the world’s largest crypto exchange, has responded to the U.S. Treasury seizing $4.4 million and freezing accounts linked to North Korean crime.
We are proud to have assisted US law enforcement in seizing $4.4M and freezing accounts linked to North Korean organized crime.
Kudos to our law enforcement partners and the Binance Investigations team for their unwavering commitment to combating crime worldwide.
— Binance (@binance) May 24, 2023
On May 23, the U.S. Treasury’s Office of Foreign Assets Control blacklisted the Binance-hosted wallets to tie up the North Korean government. According to the report, the seized crypto wallet holds Bitcoin, Ethereum, Tether, and USDC valued at more than $2 million. The crypto wallet belongs to a 58-year-old named Kim Sang Man, a North Korean citizen.
At the time, there were a lot of questions about whether the exchange actively controlled the wallets hosted by the exchange. Now the exchange has responded to the U.S. Treasury account seizing.
Binance stated that the exchange is proud to have assisted U.S. law enforcement in seizing $4.4 million and freezing accounts linked to North Korean organized crime. And the exchange praised the Binance Investigations team and our law enforcement partners for their constant effort to eradicate crime worldwide.
Source: https://thenewscrypto.com/binance-responds-to-u-s-treasury-for-north-korean-crime/