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U.S. Treasury Sanctions Burma’s Karen National Army Over $3.5B Crypto Scam Network
U.S. Treasury Sanctions Burma’s Karen National Army Over $3.5B Crypto Scam Network
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The U.S. Treasury Department has escalated its crackdown on transnational cybercrime by sanctioning Burma’s Karen National Army (KNA) and its leadership. The militia stands accused of orchestrating a sprawling crypto scam empire, including ’pig-butchering’ schemes and human trafficking operations that allegedly defrauded victims of $3.5 billion.
OFAC’s May 5 designation marks the KNA’s territory as a hub for coercive financial fraud, where trafficked individuals were forced to perpetrate crypto scams. The sanctions reflect growing regulatory scrutiny of cryptocurrency’s illicit use cases, though no specific coins or exchanges were implicated in the Treasury’s announcement.
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