The USA imposes sanctions against North Korean IT specialists for cryptocurrency theft

The US Department of the Treasury has imposed sanctions against two individuals and four organizations that, according to its information, are involved in the activities of the North Korean IT specialists' network, which infiltrated cryptocurrency companies for exploitation purposes.

The Office of Foreign Assets Control (OFAC) announced on Tuesday the imposition of sanctions against North Korean citizen Song Kum Hyok, who is alleged to have stolen data from US citizens to create fake identities and provided them to foreign IT specialists hired to work in American companies.

OFAC also imposed sanctions against Russian citizen Gaik Asatryan, who is alleged to have used his companies to hire dozens of North Korean IT specialists under long-term agreements with North Korean trading firms signed in 2024.