US EditionUS sanctions North Korean bankers accused of laundering stolen cryptocurrency
- United States Treasury Department on Tuesday designated eight individuals and two entities for laundering cryptocurrency tied to cyberattacks and illicit schemes that help fund Pyongyang's weapons programs.
- Last month, blockchain analytics firm Elliptic reported DPRK-linked hackers stole more than $2 billion in 2025, and over the past three years they diverted more than $3 billion using malware, phishing and social engineering.
- Sanctions named Korea Mangyongdae Computer Technology Company, whose president U Yong Su allegedly used Chinese nationals as banking proxies, and Ryujong Credit Bank for facilitating transfers, according to the Treasury.
- The Treasury said the designations reinforce efforts to cut off illicit revenue streams that fuel North Korea's weapons programs and cyber operations threatening U.S. and global security.
- An international 138-page report published last month documented the scope, and Treasury warned in 2022 about remote DPRK IT workers who obfuscate identities.
58 Articles
58 Articles
US Sanctions North Korean Bankers, Institutions Over Money Laundering
The United States on Nov. 4 imposed sanctions on individuals and entities accused of assisting North Korea in laundering money generated from cyberespionage and illicit activities. The Treasury said the measures aim to cut off financial resources that support Pyongyang’s nuclear programs because the communist regime in Pyongyang relies on such illicit activities to fund its ballistic missile and weapons of mass destruction programs. More than $3…
US sanctions bankers accused of money laundering to pay for North Korea’s nukes
Washington accuses Pyongyang of using a network of bankers, financial institutions and shell companies to launder money gained through IT worker fraud, cryptocurrency heist and sanctions evasion
On Wednesday, the U.S. Department of the Treasury sanctioned eight people and two companies for laundering capital for North Korea, funds from illicit funds or activities such as cyber scams, and aimed at financing their nuclear weapons program.
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