The US Treasury has sanctioned six individuals and two entities accused of supporting a North Korean IT worker fraud network that targets global companies, including those in the cryptocurrency sector.
The action was announced by the Office of Foreign Assets Control, which said the network generated revenue for North Korea’s weapons program through fraudulent technology jobs and cryptocurrency transactions.
Among those sanctioned were Amnokgang Technology Development Company and Nguyen Quang Viet, the chief executive of Quangvietdnbg International Services Company Limited, a Vietnam-based company accused of laundering about $2.5 million in crypto for the operation.
Several individuals including Do Phi Khanh, Hoang Van Nguyen, Yun Song Guk, Hoang Minh Quang and York Louis Celestino Herrera were also designated for allegedly facilitating the network.
The sanctions freeze any US-based assets connected to the individuals and entities and prohibit them from conducting financial transactions or business with US persons.
The Treasury said North Korean-linked tech workers have infiltrated companies worldwide using stolen identities and fabricated profiles to obtain remote employment.
Blockchain analytics firm Chainalysis said the sanctions included 21 cryptocurrency addresses across the Ethereum and Tron networks, reflecting the group’s use of multiple blockchains to move funds.