US sanctions Russian and North Korean actors over IT worker crypto scheme
The U.S. Treasury Department sanctioned 10 individuals and one entity tied to North Korean fraudulent IT worker schemes that generated millions of dollars in cryptocurrency.
The U.S. Department of the Treasury designated 10 individuals and one entity on Oct. 28 over their roles in North Korean IT worker schemes. According to blockchain analytics firm Chainalysis and reports by Decrypt, the operation targeted U.S. businesses with fraudulent remote IT workers to generate cryptocurrency proceeds for North Korea.[1][4][5][6]
The sanctions targeted Russian nationals Ilya Boykov and Vitold Obertas, who together converted more than $5 million in cryptocurrency for North Korean networks, according to the Office of Foreign Assets Control (OFAC). OFAC alleged that Boykov converted approximately $3.5 million for a sanctioned North Korean IT firm since 2024, while Obertas converted nearly $2 million. Chainalysis also traced salary-like crypto payments sent to a suspected North Korean developer back to a Russian intermediary.[1][3][4][6]
OFAC also identified and listed specific cryptocurrency wallet addresses linked to the network, including Ethereum and Tron addresses. CryptoSlate described the broader fake-worker operation as a $600 million enterprise, reporting that firms' existing legal blocking obligations extend beyond the specifically listed wallet addresses.[2][4]
Key facts
- The U.S. Treasury sanctioned 10 people and one entity on Oct. 28 over North Korean IT worker schemes.
- The targeted network placed fraudulent North Korean IT workers at U.S. businesses to generate cryptocurrency proceeds.
- OFAC reported that Russian nationals Ilya Boykov and Vitold Obertas converted more than $5 million in cryptocurrency for North Korean networks.
- Boykov allegedly converted about $3.5 million for a sanctioned DPRK IT firm since 2024, and Obertas allegedly converted nearly $2 million.
- Chainalysis traced salary-like crypto payments to a suspected North Korean developer through a Russian intermediary.
- The sanctions designations included Ethereum and Tron wallet addresses, though firms' asset-blocking obligations extend beyond the listed wallets.
Sources · 6 sources
- DE
Decrypt@DecryptMediaPost on X ·
US Treasury sanctions 10 people and 1 entity tied to North Korea's IT worker schemes. One Russian national converted about $3.5M in crypto for a sanctioned DPRK IT firm since 2024, OFAC says. https://t.co/TJO80tEqsH
Open source - CR
CryptoSlateArticle ·
North Korea’s $600 million fake-worker empire has a hidden crypto connection The October 28 designations identify Ethereum and Tron addresses, but firms' existing blocking duties extend beyond the listed wallets. Read the full story on CryptoSlate Understand the crypto stories that matter and what to watch next. Get The Catalyst in your inbox
Open source - CO
CoindeskArticle ·
U.S. sanctions Russian nationals for laundering millions in crypto for North Korean IT workers Russian nationals Ilya Boykov and Vitold Obertas allegedly converted about $3.5 million and nearly $2 million in crypto, respectively, for North Korea.
Open source - DE
DecryptArticle ·
Treasury Sanctions 11 Over North Korean IT Worker Scheme That Moved Millions in Crypto Two Russian nationals converted more than $5 million in crypto for North Korean networks, according to OFAC, which listed their wallets.
Open source - CH
ChainalysisArticle ·
Treasury Sanctions Russians, North Koreans supporting DPRK IT Worker Fraud Summary OFAC sanctioned Russian and DPRK nationals that targeted U.S. businesses with fraudulent IT workers, generating cryptocurrency proceeds to fund… The post Treasury Sanctions Russians, North Koreans supporting DPRK IT Worker Fraud appeared first on Chainalysis .
Open source - CR
CryptoSlate@CryptoSlatePost on X ·
The US Treasury sanctioned 10 people and one entity on Oct. 28 for their roles in North Korean IT-worker schemes. @chainalysis traced salary-like crypto payments received by a suspected North Korean developer to a Russian intermediary. via @hardeyjumoh https://t.co/5V0uZPG4bR
Open source - DE
Decrypt@DecryptMediaPost on X ·
Treasury Sanctions 11 Over North Korean IT Worker Scheme That Moved Millions in Crypto https://t.co/J5aV0mvGlR
Open source