Treasury Sanctions 11 Over North Korean IT Worker Scheme That Moved Millions in Crypto

In brief

• OFAC sanctioned 10 individuals and one entity over North Korean IT worker schemes that defraud U.S. businesses and fund the country's weapons programs.
• Treasury says Russian nationals Ilya Boykov and Vitold Obertas converted millions of dollars in crypto for North Korean networks since 2024.
• The sanctions listings include Ethereum and Tron addresses, one of which is linked to both Russian men.

The U.S. Treasury Department has sanctioned 10 individuals and one entity for their roles in North Korean IT worker schemes that defraud U.S. businesses and generate revenue for the country's weapons programs, the department said on Wednesday.

North Korea uses fake documents, stolen identities and invented personas to place IT workers at legitimate companies, then takes most of their wages, generating hundreds of millions of dollars for its weapons of mass destruction and ballistic missile programs, according to Treasury. The networks have used "sophisticated cryptocurrency transactions," money laundering and artificial intelligence tools to move millions of dollars to the regime, it said.

"The North Korean regime continues targeting and exploiting American companies through fraudulent activities conducted by its overseas IT operatives, who weaponize sensitive data and extort businesses for substantial payments," said Treasury Secretary Scott Bessent.