2023-03-03 Coinbase vs Tether on DPRK Sanctions
Last updated
Last updated
Twitter thread.
First let's look at . Each token and protocol has a separate blacklist. Just because Tether blacklists someone for USDT that doesn't mean that are necessarily blacklisted for USDC. Similarly many exchanges might reduce to deal with Tornado Cash but their blocks have no impact on other players.
There is a line in there showing flows from Coinbase to North Korea. We know it is North Korea because OFAC sanctioned the wallet. You can see blacklist info .
Then there are two things to look at:
Note that North Korea is depositing directly to Binance, FTX and Kraken while withdrawing from a wider range of exchanges. This address also used both 1inch and Uniswap.