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US Treasury Sanctions 10 Over North Korean Crypto Funding Schemes
The US Treasury has sanctioned 10 individuals and one entity on October 28 over alleged schemes using North Korean IT workers to fund the country's weapons programs. The measures target financial intermediaries, overseas IT managers and workers accused of concealing their North Korean ties through fake identities and cryptocurrency transfers. The sanctions also include Russian national Vitold Obertas, who converted nearly $2 million in cryptocurrency for North Korean officials, and North Korean nationals Kim Ki Hyok and Kim Hyo Dong, who led IT worker groups in Russia and helped move financial assets. The Treasury also designated Russia-based First Financial and Technical Development Center and six North Korean IT workers for their cryptocurrency and financial asset transfers since 2025.