The US Treasury Department has imposed sanctions on individuals and entities from North Korea over crypto theft allegations. The agency announced that two individuals and 4 entities were involved in the North Korea-run IT worker fraud scheme, aiming to exploit crypto firms by infiltrating them.
According to the official release, North Korea is funding its WMD (weapons of mass destruction) and ballistic missile programs by deploying highly skilled IT professionals. These employees extort money by infiltrating companies and hacking their systems. They then divert money to North Korea using stolen US identities and cryptocurrencies.
A Treasury spokesperson said, “Today’s action underscores our commitment to disrupt the DPRK’s abuse of the international financial system through fraudulent IT work.”
The US Treasury’s Office of Foreign Assets Control (OFAC) has taken action against Song Kum Hyok, a cyber operative from North Korea who is linked to the Andariel hacking unit. OFAC has also sanctioned Gayk Asatryan, a Russian facilitator, and four other Russia-based entities for brokering employment and laundering payments on behalf of DPRK workers.
By these sanctions, the US is sending a strong message to the Kim Regime that all the fraudulent schemes will be met by swift action.
Also Read: North Korean Hackers Target Crypto Projects With MacOS Exploit
