North Korean Hackers Stole Over $3 Billion in Crypto, U.S. Sanctions Bankers and IT Firms

The U.S. Treasury Department sanctioned eight individuals and two entities connected to North Korea’s cybercrime operations to target the flow of stolen cryptocurrency used to fund Pyongyang's nuclear weapons and missile programs. North Korea-affiliated cybercriminals have stolen more than $3 billion, primarily in crypto, over the last three years using malware, social engineering, and ransomware against financial platforms.

The sanctions specifically targeted bankers Jang Kuk Chol and Ho Jong Son, IT firm Korea Mangyongdae Computer Technology Corp., its president U Yong Su, Pyongyang-based Ryujong Credit Bank, and five DPRK banking representatives in China and Russia for laundering funds. These actions block U.S. access to the sanctioned parties' assets and prohibit U.S. persons from engaging with them, aiming to cut off Pyongyang's access to digital assets funding its sophisticated cyber operations and overseas IT labor exploitation.

(Source：Bitcoin Magazine)