US Sanctions North Korea-Linked IT Network Targeting Crypto Firms
The US Treasury has imposed sanctions on a North Korean-backed IT worker network accused of infiltrating cryptocurrency firms and tech companies. Two individuals and four entities are now barred from the US financial system, with frozen assets.
Deputy Secretary Michael Faulkender stated the measures aim to curb identity theft and crypto heists funding Pyongyang's missile programs. The operation marks a shift from large-scale hacks to covert IT infiltration schemes.
Sanctioned individuals include Song Kum Hyok, alleged to have stolen US citizen data for fake identities, and Russian national Gayk Asatryan, who contracted North Korean developers through trading firms. The Treasury's OFAC emphasized these actions disrupt revenue streams for North Korea's weapons programs.
