U.S. Treasury Sanctions 11 Over North Korean IT Scheme

The U.S. Treasury Department announced sanctions against 10 individuals and one entity for their involvement in North Korean IT worker schemes that defraud U.S. businesses and generate revenue for the country's weapons programs, according to Decrypt.

According to the Treasury, North Korea uses fake documents, stolen identities, and invented personas to place IT workers at legitimate companies while taking most of their wages. The networks leverage artificial intelligence tools, money laundering, and cryptocurrency transactions to move millions of dollars to the regime.

Russian Nationals and Crypto Conversions

Two Russian nationals were named in the sanctions list. Vitold Obertas allegedly carried out nearly $2 million in crypto conversions since January 2025, alongside at least $1.25 million in other currency transactions for North Korean officials. Meanwhile, Ilya Boykov has exchanged and converted the equivalent of $3.5 million in crypto since 2024 for Limited Liability Company Alis, a North Korean IT worker company previously sanctioned in 2024.

The Treasury stated that the listings include multiple Ethereum and Tron blockchain addresses linked to the individuals. The First Financial and Technical Development Center, a North Korean-controlled entity based in Vladivostok, Russia, was also targeted alongside delegation leaders such as Kim Ki Hyok.

Key facts

• The U.S. Treasury sanctioned 10 individuals and one entity over North Korean IT worker schemes.
• Russian nationals Ilya Boykov and Vitold Obertas converted millions of dollars in crypto for North Korean networks.
• Vitold Obertas carried out nearly $2 million in crypto conversions since January 2025.
• Ilya Boykov converted the equivalent of $3.5 million in crypto since 2024 for LLC Alis.
• The sanctions listings include Ethereum and Tron blockchain addresses.