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 Office of Foreign Assets Control (OFAC) sanctioned six individuals and two entities involved in a Democratic People’s Republic of Korea (DPRK)-led IT worker fraud network. The scheme defrauded U.S. companies to fund DPRK’s weapons of mass destruction programs, with nearly $800 million involved in 2024 alone.
The sanctioned individuals facilitated cryptocurrency exchange, money laundering, and IT operations for DPRK IT workers who used fake identities to infiltrate companies. Two entities, Amnokgang and Quangvietdnbg, were key operators.
OFAC identified 21 cryptocurrency addresses linked to the network. One individual exchanged approximately $2.5 million in crypto for DPRK operatives. Chain analysis revealed significant outflows to various exchanges, including over 200,000 USDT and substantial amounts of Ethereum, Tether, and TRX.
This action underscores ongoing efforts to combat DPRK’s use of crypto to evade sanctions and highlights the importance of robust anti-money laundering screening for virtual asset service providers.
Odaily星球日报03/14 04:43
