U.S. Treasury Sanctions 11 Over North Korean Crypto Networks
The action targets 10 people and one entity, including two Russians Treasury says converted millions in cryptocurrency for North Korean networks.
Key takeaways
- Treasury sanctioned 10 individuals and one entity over North Korean IT-worker schemes.
- Treasury said Obertas carried out nearly $2 million in crypto conversions since January 2025.
The U.S. Treasury sanctioned 10 individuals and one entity on Wednesday over North Korean IT-worker schemes that defrauded U.S. businesses and generated revenue for weapons programs, the department said.
Treasury said Russian national Vitold Obertas carried out nearly $2 million in crypto conversions since January 2025, plus at least $1.25 million in other currency transactions, for North Korean officials. It said Ilya Boykov converted the equivalent of $3.5 million in crypto since 2024 for Alis, a North Korean IT-worker company sanctioned in 2024.
The sanctions also covered the First Financial and Technical Development Center, a North Korean-controlled entity based in Vladivostok. Treasury said six Russia-based North Korean IT workers generated more than $750,000 for the center since 2025.
The listings included Ethereum and Tron addresses. One Ethereum address appeared in the entries for both Boykov and Obertas.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
