Treasury Sanctions Crypto IT Scam Spanning North Korea, Russia, and China

On Wednesday, the US Department of Finance announced sanctions against a web of North Korean, Russian and Chinese individuals and companies for their alleged role in stealing cryptocurrency of American companies by introducing themselves as IT employees.

The sanctions provide some insight into the advanced, worldwide OM Operation IT employee in North Korea, who has collected hundreds of millions of dollars for the Pariah State in recent years. The operation has placed spies Posing as external employees Within foreign companies and used them to ultimately rob the companies of cryptocurrency from the inside.

Similar regulations have also involved in gaining access to such companies by misleading real employees with Online scams.

Today’s sanctions were aimed at such an operation, who is said to be a Russian national, Vitaliy Andreyev; A North Korean officer, based in Russia, Kim Ung Sun; a North Korean company consisting of a delegation of North Korean IT workers; And a Chinese front company for that team.

The Russian National, Andreyev, would have helped the North Koreans stolen in converting cryptocurrency via IT employees into US dollars. The Ministry of Finance said that the funds of these activities were used to support the nuclear and ballistic rocket weapon programs of Noord -Korea.

“The Noord -Korean regime continues to focus on American companies in which his overseas IT workers are involved, who steal data and demand ransom, said under the secretary of the treasury for terrorism and financial information John K. Hurley in a statement. “Treasury is dedicated under President Trump to protect Americans against these regulations and to keep the culprit responsible.”

Today’s announcement builds up from earlier actions taken by the Biden administration to focus on North Korea-Lied-based cryptocurrency theft schemes. In 2023 first the Treasury Department punished One of the Noord -Korean IT employee companies in the center of today’s announcement, called Chinyong.

The Trump government, however, has been considerably shifted from its predecessor, however, in his explained approach of mint mixing services used by bad actors to launder the stolen cryptocurrency. While the Biden Treasury actively pursued sanctions against such decentralized intermediaries, the government has Trump dragged In recent months of it, it only claims the Bad actors involved.

Earlier this month, however, the Trump Minister of Justice succeeded in getting a jury condemn Roman Storm, co-founder of the popular coin mixing service Tornado-Contant Money, of a criminal illegal money that is sending.

The DOJ then seemed to be recovering his victory, promise For a chamber of the leaders of the Crypto industry weeks later that it would no longer take the indictment that used to condemn a storm against developers of “really decentralized” software that does not take custody of user funds, even when the software is used by criminal entities to vulnerinate funds.