US Treasury sanctions 11 over North Korean IT worker crypto scheme
CIE News ·
Based on reporting by Decrypt; not yet independently confirmed.
The US Treasury Department sanctioned 10 individuals and one entity on October 28, 2026, over North Korean IT worker schemes that used crypto conversions to fund state weapons programs, Decrypt reported.
The US Treasury Department sanctioned 10 individuals and one entity on October 28, 2026, for running North Korean IT worker operations that defrauded businesses and channeled funds into weapons programs, Decrypt reported. According to Treasury, operatives used stolen identities, artificial intelligence tools, and crypto transactions to launder wages back to the regime. Intermediary Ilya Boykov reportedly converted $3.5 million in crypto since 2024, while Vitold Obertas exchanged nearly $2 million in crypto since January 2025. Treasury also sanctioned the Vladivostok-based First Financial and Technical Development Center and worker delegation head Kim Ki Hyok, who allegedly moved nearly $500,000 in crypto since 2024.
Key facts
- 10 individuals, 1 entity sanctioned
- $3.5M crypto converted by Boykov
- Nearly $2M converted by Obertas
- Sanctioned on October 28, 2026