Treasury Sanctions 11 Over North Korean IT Worker Scheme That Moved Millions in Crypto
Summary
The U.S. Treasury sanctioned 10 people and one entity tied to North Korean IT-worker schemes that use fake identities to obtain jobs at U.S. companies and funnel earnings to the regime’s weapons programs. Treasury said the networks rely on cryptocurrency, money laundering and AI. The sanctions include Russian intermediaries accused of converting millions of dollars in crypto, a North Korean-controlled center in Vladivostok, and North Korean delegation leaders. Treasury cited more than $750,000 generated for the center by six workers and nearly $500,000 in crypto transfers by one sanctioned leader. The action follows earlier U.S. sanctions and designations by Australia and the EU.
