U.S. Treasury sanctions North Korean crypto IT scams

ChainCatcher news, according to Decrypt, the U.S. Treasury Department has announced sanctions against individuals and companies in North Korea, Russia, and China for allegedly stealing cryptocurrency from U.S. businesses by disguising themselves as IT workers. This action involves a global network of IT workers from North Korea that has raised hundreds of millions of dollars for the country over the past few years.

The network has been stealing cryptocurrency from within foreign companies by inserting spies disguised as remote workers. The sanctions involve a Russian national, a North Korean official in Russia, a team of North Korean IT workers, and a Chinese front company. These funds have been used to support North Korea's nuclear weapons and ballistic missile programs.