How 2022’s Biggest Cryptocurrency Sanctions Designations Affected Crypto Crime

2023-01-09 Chainalysis

https://blog.chainalysis.com/reports/how-2022-crypto-sanction-designations-affected-crypto-crime/

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Chainalysis reviews 2022 cryptocurrency sanctions and highlights Lazarus Group as the North Korea-linked hacking and crypto-theft actor among OFAC-designated entities. The DPRK-relevant section focuses on Tornado Cash, a decentralized Ethereum mixer sanctioned for facilitating money laundering tied primarily to funds stolen in hacks by cybercriminals associated with North Korea. The report contrasts service-level designations such as Tornado Cash, Blender.io, Hydra, and Garantex with earlier individual wallet sanctions, showing how illicit crypto enforcement expanded as large services were used to move stolen funds. For Lazarus tracking, the key point is the policy and on-chain impact of sanctions against infrastructure used to launder DPRK-linked hack proceeds.

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