U.S. Sanctions North Korean IT Workers Over Cyber Espionage and Crypto Thefts

The U.S. Treasury Department has sanctioned North Korean national Song Kum Hyok, labeling him a "malicious cyber actor" linked to a state-backed hacking group. The MOVE aims to block Song from the global financial system, alleging he facilitated the placement of North Korean IT workers in companies worldwide. These workers reportedly funneled funds back to Pyongyang and exploited their positions for additional revenue.

Cryptocurrency projects have been frequent targets of such schemes, with North Korean hackers blamed for several high-profile thefts. The Treasury noted that these IT workers often infiltrate technology and VIRTUAL currency firms, though no specific crypto projects or wallets were named in the latest sanctions. The Lazarus Group, previously sanctioned for its role in crypto hacks, was also referenced.

Analyst ZachXBT recently warned that multiple projects were likely compromised after hiring North Korean developers. The sanctions underscore ongoing concerns about state-sponsored cybercrime in the digital asset space.