U.S. Treasury Sanctions Eight Individuals and Two Entities Linked to North Korean Cybercrime and Cryptocurrency Laundering

The Office of Foreign Assets Control (OFAC) of the U.S. Treasury announced on the 4th that it has designated eight individuals and two entities as sanctions targets for their involvement in laundering funds obtained through North Korean cybercrime and IT worker fraud. These actors pose a direct threat to U.S. and global security by raising funds for North Korea's nuclear weapons program.

John K. Harley, Deputy Secretary of the Treasury for Terrorism and Financial Intelligence, stated, 'State-sponsored hackers from North Korea have been stealing and laundering funds to finance the regime's nuclear weapons program.' Over the past three years, cybercriminals associated with North Korea have primarily stolen over $3 billion in cryptocurrencies, demonstrating sophisticated multi-layered...