On-Chain Tracking｜US Further Cracks Down on North Korean IT Worker Fraud Network Using Cryptocurrency to Fund Weapons of Mass Destruction, Sanctions 6 Individuals and 2 Entities
On March 12, the U.S. Treasury’s OFAC sanctioned six individuals and two entities involved in a DPRK-led IT worker fraud network. These actors allegedly deceived U.S. companies to generate revenue for North Korea’s weapons of mass destruction programs, with nearly $800 million involved in 2024 alone.
The sanctioned individuals facilitated crypto exchange, money laundering, and IT operations, while the entities (Amnokgang and Quangvietdnbg) were key operators. A total of 21 cryptocurrency addresses were identified. One individual exchanged approximately $2.5 million in crypto for North Korea.
Blockchain analysis revealed fund flows to major exchanges, including over 200,000 USDT and 0.57 BTC traced to CEXs. One address held over $24 million in stablecoins, with significant outflows detected.
This action underscores ongoing U.S. efforts to combat DPRK’s use of crypto to evade sanctions and fund illicit programs. Virtual asset service providers are urged to enhance AML screening and monitor high-risk addresses.
marsbit03/14 04:47
