Core Points - The U.S. Treasury's Office of Foreign Assets Control (OFAC) has imposed sanctions on eight individuals and two entities in North Korea for laundering proceeds from cyber activities and IT worker schemes [1] - The sanctions are linked to North Korea's weapons programs and highlight the evasion of sanctions through cyber theft and IT contracting [2] - Over $3 billion has been stolen in the past three years, primarily in cryptocurrency, which is used to fund North Korea's nuclear weapons program [5] Group 1: Designated Individuals and Entities - North Korean bankers Jang Kuk Chol and Ho Jong Son were designated for managing $5.3 million in cryptocurrency on behalf of First Credit Bank [3] - Korea Mangyongdae Computer Technology Company was designated for operating IT worker delegations in China that utilized proxies to move funds [3] - Ryujong Credit Bank was designated for providing financial services that facilitated sanctions avoidance between China and North Korea [4] Group 2: Financial Channels and Risks - The Treasury's release indicates that the designated parties were involved in transferring funds in U.S. dollars, Chinese yuan, and euros, raising compliance risks for exchanges and financial institutions [4] - The sanctions block property and interests of designated parties within the U.S. or controlled by U.S. persons, including entities owned 50% or more by blocked individuals [6] - The Treasury aims to cut off North Korea's illicit revenue streams by targeting facilitators and enablers of these schemes [6]

Core Points - The U.S. Treasury has imposed new sanctions on North Korean bankers and institutions involved in laundering cryptocurrency linked to cyberattacks and illicit IT work schemes that fund weapons programs [1][6] - North Korean state-sponsored hackers have reportedly stolen over $2 billion in cryptocurrency in 2025, indicating the regime's increasing dependence on digital assets [2] - The sanctioned network utilized cryptocurrency transactions and shell companies to obscure the flow of illicit funds, with specific individuals managing significant amounts tied to ransomware activities [4][5] Group 1: Sanctions and Targets - Eight individuals and two entities were designated for laundering funds derived from cybercrime, including proceeds from ransomware and crypto thefts [1] - The Treasury targeted specific individuals, including Jang Kuk Chol and Ho Jong Son, who managed at least $5.3 million in cryptocurrency linked to First Credit Bank [4] - The sanctions also extend to Korea Mangyongdae Computer Technology Company (KMCTC), which allegedly used Chinese nationals as banking proxies to disguise the origins of funds earned by DPRK IT workers abroad [5] Group 2: Cyber Activities and Techniques - North Korean hackers employ advanced malware, phishing campaigns, and social engineering to infiltrate crypto firms and exchanges [3] - A recent investigation revealed that these hackers are increasingly using AI to automate and scale their cyberattacks [3] - Ryujong Credit Bank was also sanctioned for facilitating international transfers for North Korean entities involved in sanctions evasion and crypto laundering [6]

1inch continues to support initiatives that strengthen the security of the DeFi ecosystem. We look forward to the ongoing collaboration and to addressing the evolving challenges we face in the space.zeroShadow (@zeroshadow_io):🧵North Korea Laundered $1 Billion in Crypto in 4 Months. How Industry Leaders Can Change Crypto Freezes and Recovery ...