U.S. Treasury Warns That DeFi Used by North Korea, Scammers to Launder Dirty Money

Decentralized finance (DeFi) services that aren’t compliant with anti-money laundering and terrorist financing rules pose “the most significant current illicit finance risk” in that corner of the crypto sector, according to the U.S. Department of the Treasury’s first analysis of hazards from the technology.

In an expected risk assessment published Thursday, the Treasury said thieves, scammers, ransomware cyber criminals and actors for the Democratic People’s Republic of Korea (DPRK) are using DeFi to launder proceeds from crime.

Source: U.S. Treasury Warns That DeFi Used by North Korea, Scammers to Launder Dirty Money