The US Treasury has sanctioned two individuals and four entities linked to a North Korean IT worker ring that infiltrated crypto companies for exploitation. The sanctions specifically target Song Kum Hyok, who allegedly stole information from US citizens to create aliases, and Russian national Gayk Asatryan, who employed North Korean IT workers via agreements with North Korean firms starting in 2024. The US Treasury aims to disrupt North Korea's efforts to fund ballistic missile programs through cyber fraud and digital asset theft. Thousands of skilled North Korean IT workers are reportedly targeting wealthier nations. The Treasury's sanctions freeze any US assets belonging to those sanctioned and prohibit US citizens from engaging in any financial transactions with them. Additionally, North Korea is shifting from traditional hacking methods to adopting deception-based revenue models, as noted by blockchain intelligence firm TRM Labs, estimating that North Korean actors are behind $1.6 billion of the $2.1 billion lost in crypto thefts in early 2025. This crackdown on North Korean IT workers forms part of broader US efforts against fraudulent activities linked to the regime.

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