Treasury sanctions 11 over North Korean IT worker scheme

The US Treasury on October 28, 2026 sanctioned 10 individuals and one entity it says helped North Korean IT workers earn and move money, including in crypto, according to its press release. The Office of Foreign Assets Control (OFAC) listings include Ethereum and Tron addresses.

Details

The entity is the First Financial and Technical Development Center, which Treasury describes as DPRK-controlled and based in Russia. The release says it generated more than $750,000 since 2025 through six IT workers.

Two Russian nationals are among those named. Vitold Obertas allegedly converted about $2 million in crypto for North Korean officials since January 2025, plus more than $1.25 million in other currencies. Ilya Boykov allegedly exchanged or converted $3.5 million in crypto since 2024. North Korean national Kim Ki Hyok, who leads Alis LLC, transferred roughly $500,000 in crypto since 2024, Treasury says.

According to Decrypt, Boykov's listing has two Ethereum and two Tron addresses, Obertas has one Ethereum and three Tron addresses, and one Ethereum address appears on both. The release names no exchanges. Treasury Secretary Scott Bessent said: "The North Korean regime continues targeting and exploiting American companies through fraudulent activities conducted by its overseas IT operatives."

What it means for the market

US persons are barred from dealing with the listed people and addresses, and exchanges and payment services are expected to block related transfers. It is a reminder that wallets flagged by OFAC can lead to frozen accounts on regulated platforms.

The action has no direct bearing on the bitcoin price; see the daily brief for live data. Coin pages: Ethereum, Tron.