Government Agency News State.gov Press release
Today, in a whole-of-government effort, the United States is taking actions against two of the three co-founders of the sanctioned virtual currency mixer Tornado Cash for their roles facilitating the laundering of cryptocurrency stolen by the Democratic People’s Republic of Korea (DPRK).
Pyongyang’s aggressive cyber theft campaign plays a key role in generating funds for the DPRK’s unlawful weapons of mass destruction and ballistic missile programs. Today’s actions demonstrate the United States’ commitment to protecting the integrity of our financial system, including the virtual currency ecosystem, and to disrupting the ability of the DPRK to raise funds through illicit activity.
Semenov is being designated pursuant to Executive Order (E.O.) 13694, as amended by E.O. 13757, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, any activity described in subsections (a)(ii) or (a)(iii)(A) of E.O. 13694, as amended, or any person whose property and interests in property are blocked pursuant to E.O. 13694, as amended, and pursuant to E.O. 13722 for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, the Government of the DPRK, a person whose property and interests in property are blocked pursuant to E.O. 13722. For more information on today’s designation, please see Treasury’s press release.
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