OFAC Targets DPRK IT Workers Using Crypto
Contents
TL;DR
- OFAC designated six individuals and two entities for facilitating North Korean IT worker schemes that generated nearly $800 million in 2024 to fund the DPRK’s weapons programs.
- A key facilitator converted approximately $2.5 million into cryptocurrency for North Korean IT workers between mid-2023 and mid-2025.
- The networks operated across multiple countries, including Vietnam, Laos, and Spain, using cryptocurrency to move illicit earnings.
- This action builds on the U.S. Treasury Department’s ongoing efforts to disrupt DPRK revenue generation schemes that exploit legitimate businesses and leverage digital assets for sanctions evasion.
On March 12, 2026, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned six individuals and two entities for their roles in North Korean government-orchestrated IT worker fraud schemes. These schemes systematically targeted U.S. businesses and generated nearly $800 million in 2024 to fund the Democratic People’s Republic of Korea (DPRK)’s weapons of mass destruction (WMD) and …
- OFAC designated six individuals and two entities for facilitating North Korean IT worker schemes that generated nearly $800 million in 2024 to fund the DPRK’s weapons programs.
- A key facilitator converted approximately $2.5 million into cryptocurrency for North Korean IT workers between mid-2023 and mid-2025.
- The networks operated across multiple countries, including Vietnam, Laos, and Spain, using cryptocurrency to move illicit earnings.
- This action builds on the U.S. Treasury Department’s ongoing efforts to disrupt DPRK revenue generation schemes that exploit legitimate businesses and leverage digital assets for sanctions evasion.
On March 12, 2026, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned six individuals and two entities for their roles in North Korean government-orchestrated IT worker fraud schemes. These schemes systematically targeted U.S. businesses and generated nearly $800 million in 2024 to fund the Democratic People’s Republic of Korea (DPRK)’s weapons of mass destruction (WMD) and …
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