The UK states that crypto companies may have underreported sanction violations and face attacks from North Korean hackers

According to a report by CoinWorld, the UK's Office of Financial Sanctions Implementation (OFSI) has stated that since 2022, UK cryptocurrency companies are likely to have underreported violations of financial sanctions, most of which occur unintentionally, involving direct or indirect transactions with sanctioned individuals or entities. Since August 2022, suspected sanction violations must be reported to OFSI. The report also warns that UK crypto companies face a high risk of attacks from North Korean hackers, who often act on behalf of sanctioned parties. The report shows that since 2022, over 7% of suspected violation cases reported to OFSI involved cryptocurrency companies. Following the outbreak of the Russia-Ukraine conflict in 2022, the UK and several other countries have clearly expanded the scope of sanctions to include the cryptocurrency sector. Currently, there are 55 registered cryptocurrency companies with the Financial Conduct Authority in the UK, but the specific number of violating companies has not yet been disclosed.