The U.S. Treasury Department has announced sanctions against North Korean, Russian, and Chinese individuals and companies implicated in a scheme to steal cryptocurrency from American businesses. This operation, which involved North Korean IT workers posing as legitimate employees, has reportedly generated hundreds of millions of dollars for North Korea, funding its nuclear and ballistic missile programs. The sanctions specifically target Russian national Vitaliy Andreyev and his connections to North Korean officials and front companies used to facilitate the theft of cryptocurrency. The Biden administration has previously identified similar scams, with the current measures building on earlier actions taken against North Korean-linked crypto thefts. The Treasury's Under Secretary emphasized the commitment to protecting Americans from fraudulent schemes spearheaded by North Korean operatives, noting the ongoing threats to U.S. businesses from these sophisticated operations. The announcement also reflects a shift in the U.S. approach under Biden, particularly with regard to cryptocurrency regulations and international financial crime prevention.

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