US Treasury sanctioned 2 people and 4 entities for what it claims was an IT worker network run by North Korea, which infiltrated cryptocurrency companies with the intention of exploiting them.
Office of Foreign Assets Control of the Treasury said On Tuesday, the US sanctioned Song Kum Hyok of North Korea for allegedly using stolen US citizen information as aliases to hire foreign IT workers to seek employment in US companies.
OFAC has also sanctioned Gayk Asatryan, a Russian citizen. He is accused of using his businesses to hire dozens North Korean IT staff under agreements that he made with North Korean traders starting in 2024.
There are a growing number of fraudsters with North Korean ties, or the Democratic People’s Republic of Korea. expanding their infiltration operationsGoogle found in an April 2016 report that this infrastructure is now spread across the globe.
“Treasury remains committed to using all available tools to disrupt the Kim regime’s efforts to circumvent sanctions through its digital asset theft, attempted impersonation of Americans, and malicious cyber-attacks,” Michael Faulkender is the Treasury deputy secretary.
IT Workers Target Wealthier Countries to Fund Missile Program
OFAC reported that North Korea plans to raise revenue for their ballistic-missile programs through the deployment of thousands of highly qualified IT workers around the world. The majority are in China and Russia.
OFAC reported that workers primarily target employers in richer countries using a variety of mainstream and industry specific networking platforms.
It is important to note that the word “you” means “your”. sanctions This means that all US assets related to Asatryan and Song as well as the four Russian entities named also are frozen. Under the threat of criminal and civil penalties, it is now also illegal for US citizens to engage in any type of financial transaction or business with Asatryan, Song, and the four Russian entities named.
North Korea moves away from hacking
North Korea’s high-profile hacking teams are notorious. such as the Lazarus GroupIt is also responsible for the biggest crypto-hacks recorded. such as the $1.5 billion Bybit exploit In February,
However, blockchain intelligence firm TRM Labs said On Tuesday, they announced that their tactics are changing.
“While exchange breaches remain significant, DPRK-linked operations are increasingly shifting toward deception-based revenue generation, including IT worker infiltration,” “The firm” said.
TRM Labs estimated that North Korea-aligned criminals are responsible for $1.6 Billion of the $2.1 Billion stolen across 75 crypto hacks and exploits In the first half 2025.
US cracksdown on North Korean IT Workers
In the past year, US authorities have increased their crackdown on frauds that involve North Korean IT workers.
Related: North Korea targets crypto workers with new info-stealing malware
Four North Koreans were arrested on June 30. charged with wire fraud and money laundering The scammers posed as remote employees at US-based and Serbian blockchain firms.
The US Department of Justice also announced on June 5 that the US Department of Justice was a trying to seize $7.74 million in frozen crypto North Korean workers allegedly earning money using fake identities while working as contractors at remote blockchain firms.
Magazine: North Korea crypto hackers tap ChatGPT, Malaysia road money siphoned: Asia Express
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Source: cointelegraph.com
