U.S. Treasury Sanctions 11 Over North Korean Crypto Laundering Network

The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) sanctioned 10 people and one company over a network tied to North Korean IT-worker fraud and millions of dollars in crypto conversions. Treasury said the network involved North Korean IT workers who defrauded U.S. companies and used the proceeds to support North Korea's weapons of mass destruction and ballistic missile programs. Treasury linked Russian national Ilya Boykov to about $3.5 million in cryptocurrency exchanges for North Korea's Alis company beginning in 2024.