U.S. Sanctions North Korean IT Worker Network in Russia
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On October 28, 2026, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated 10 individuals and 1 company in Russia that assisted the North Korean IT worker network for sanctions. The United States alleged that these individuals and entities helped North Korean IT workers convert cryptocurrency earnings into cash and funnel the funds to Pyongyang. Chainalysis said the related activities involved nearly $2 million in cryptocurrency conversions and approximately $3.5 million in money laundering. One case showed that stablecoin earnings were first converted into Ether (ETH), then consolidated through multiple addresses, and ultimately transferred to Garantex for cashing out.
AI-written from reports · updated 59 minutes ago
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On October 28, the U.S. Treasury Department's OFAC added 10 individuals and 1 company to its sanctions list, accusing them of helping convert North Korean IT workers' cryptocurrency earnings into cash and funneling them to Pyongyang. Chainalysis said those involved handled nearly $2 million in cryptocurrency conversions and approximately $3.5 million in money laundering activity. One case showed stablecoin earnings first converted into ETH, then consolidated across addresses and transferred to Garantex for cash-out.
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