U.S. Sanctions North Korean Bankers, IT Fronts in $3B Crypto Theft Scheme
The U.S. Treasury Department on Tuesday sanctioned eight individuals and two entities for laundering funds linked to North Korean cyber thefts and overseas IT operations, part of a broader effort that Washington says has stolen more than $3 billion in cryptocurrency over the past three years to fund weapons programs.
Those sanctioned include bankers Jang Kuk Chol and Ho Jong Son, tied to $5.3 million in crypto for First Credit Bank; Korea Mangyongdae Computer Technology Company and its president, U Yong Su; Ryujong Credit Bank; and five North Korean banking representatives operating in China and Russia. Treasury also updated First Credit Bank’s Specially Designated Nationals entry to include cryptocurrency addresses.
The…
