The US government has taken new action against a group accused of helping North Korea steal cryptocurrency from companies in the United States by pretending to be remote tech workers.
On August 27, the Treasury Department named several individuals and organizations from North Korea, Russia, and China who allegedly played a role in this scheme.
The goal of the operation was to place North Korean workers inside foreign businesses, gain access to their systems, and then steal cryptocurrency.
Did you know?
Subscribe – We publish new crypto explainer videos every week!
Is Your Crypto Safe? (5 Best Crypto Security Practices Explained)
This network reportedly named several key players in the latest action. Among them are a Russian citizen named Vitaliy Andreyev, a North Korean official operating out of Russia named Kim Ung Sun, a team of North Korean IT workers operating as a company, and a Chinese business that supported their activities.
Together, they helped funnel stolen digital funds out of companies and into North Korea.
According to US officials, these workers posed as freelance or remote tech employees. Once hired, they were able to gain access to sensitive systems. From there, they could take money in the form of cryptocurrency and pass it through a web of helpers.
This latest round of sanctions builds on past operations taken to stop North Korea’s misuse of crypto tools.
In 2023, US authorities imposed penalties on a North Korean group named Chinyong, which was also involved in placing fake IT workers inside foreign businesses. That same group is connected to this new case.
Recently, Interpol arrested more than 1,200 suspects in a major operation called Operation Serengeti 2.0. How did the operation go? Read the full story.
