In a significant move to combat illicit activities linked to North Korea, the US Treasury Department has imposed sanctions on two individuals and four entities associated with a North Korean IT worker. According to the conclusions drawn in the analytical report, this action aims to disrupt a network that has been infiltrating cryptocurrency companies to finance the country's missile programs.
Sanctioned Network Involved in Data Theft
The Office of Foreign Assets Control (OFAC) revealed that the sanctioned network was involved in stealing personal data, impersonating American citizens, and embedding operatives within US cryptocurrency firms using false identities. Among those sanctioned is Song Kum Hyok, a North Korean operative accused of utilizing stolen identities of US citizens to help North Korean IT workers secure employment in American companies.
Sanctions on Russian National
Additionally, Russian national Gayk Asatryan has been sanctioned for hiring numerous North Korean IT workers through contracts with North Korean trading firms. As a result of these sanctions, all US-based assets linked to the sanctioned individuals and entities will be frozen, and US individuals and businesses are prohibited from engaging in any financial transactions with them.
The recent sanctions imposed by the US Treasury on individuals linked to North Korea highlight ongoing geopolitical tensions, which are further complicated by the proposed 25% tariff on South Korean goods. For more details, see this article.
