OFAC don impose sanctions on North Korea for crypto infiltration
US Treasury OFAC don put sanctions on two people and four Russian companies wey dey linked to secret IT network for North Korea. Dem use fake US names enter crypto companies, put malware, and carry digital assets comot. Di main people dem na Song Kum Hyok wey dey connected to Reconnaissance General Bureau’s Andariel group, plus Russian guy Gayk Asatryan wey host like 30 people to help dem find tech jobs. Dem money wey dem use dey fund North Korea ballistic missile and WMD programs. Blockchain company TRM Labs talk say the DPRK linked people don steal about $1.6 billion - pass 75% of the $2.1 billion wey hacker dem take for crypto for first half of 2025. This move to sneak inside quietly show say cyber wahala for blockchain side dey change. The sanction for North Korea na to stop money wey dem dey use buy weapons and also to show say dem go tighten rules and security for crypto traders.
Bearish
Di announce wen dey put sanction for North Korea plus wey dem show say dem get stealth crypto infiltration network don make crypto sector risk dey high. Traders fit start dey fear, dem go reduce their position for asset wey no too strong regulation because compliance demand plus sanction threat don increase. For short term, security worry fit make trading volume reduce. For long term, stricter check and regulation fit make market strong but e fit limit some DeFi activities. Overall, this news be bearish for crypto market sentiment.