The US Treasury Department’s Office of Foreign Assets Control said it has sanctioned 10 individuals and one entity tied to a network involving North Korean IT workers, fraud against US companies, and cryptocurrency laundering. Treasury said the proceeds were used to support North Korea’s weapons of mass destruction and ballistic missile programs. Among those named were Russian national Ilya Boykov, who Treasury said had exchanged about $3.5 million in cryptocurrency for North Korea’s Alis company since 2024, and Russian national Vitold Obertas, who was accused of carrying out nearly $2 million in crypto conversions for North Korean officials since January 2025. The sanctions also cover FFTDC, a North Korea-controlled entity based in Russia, along with six IT workers linked to it. Treasury said those six workers generated more than $750,000 starting in 2025. Australia and the European Union also took similar sanctions actions this month.
The US Treasury Department’s Office of Foreign Assets Control (OFAC) has sanctioned 10 individuals and one entity in what it described as a crackdown on North Korean IT worker fraud targeting US companies and a related cryptocurrency laundering network.
According to the announcement, the sanctioned targets were involved in schemes in which North Korean IT workers defrauded US businesses, with the proceeds used to support North Korea’s weapons of mass destruction and ballistic missile programs.
Two Russian nationals were identified
OFAC named Russian national Ilya Boykov, saying that since 2024 he had exchanged about $3.5 million in cryptocurrency for North Korea’s Alis company.
It also named Russian national Vitold Obertas, who since January 2025 allegedly carried out nearly $2 million in cryptocurrency conversions for North Korean officials.
Russia-based entity FFTDC and six IT workers were also sanctioned
The sanctions list also includes FFTDC, a North Korea-controlled entity based in Russia, as well as six IT workers tied to the group. Treasury said the six workers generated more than $750,000 starting in 2025.
Australia and the EU took similar steps this month
Treasury’s move comes as Australia and the European Union also took similar sanctions actions this month.
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