**U.S. Hits North Korean Bankers with Sanctions Over Crypto Laundering**
The U.S. Treasury Department has imposed new sanctions on several North Korean bankers and institutions accused of laundering millions in cryptocurrency proceeds linked to cyberattacks and aiding the regime’s weapons development.
### Sanctions Target Key Individuals and Entities
The U.S. Treasury’s Office of Foreign Assets Control (OFAC) sanctioned eight individuals and two entities as part of ongoing efforts to combat North Korea’s cyber-enabled activities. According to the Treasury, North Korean hackers have stolen over $2 billion worth of cryptocurrency in 2025 alone. A significant portion of these funds is derived from cybercrimes, including ransomware attacks.
Among the sanctioned individuals are Jang Kuk Chol and Ho Jong Son, bankers connected to First Credit Bank. The Treasury claims they laundered at least $5.3 million through shell companies, facilitating ransomware payments and transactions linked to North Korean IT workers operating abroad.
### Increasing Use of AI in Cyberattacks
North Korean hackers have expanded their techniques by leveraging advanced AI tools, according to blockchain analytics firm Elliptic. These tools help automate and scale attacks, enabling greater disruption. The Treasury Department confirmed that North Korean actors also employ phishing, malware, and social engineering tactics to breach cryptocurrency exchanges and related firms.
### Sanctioned Entities: KMCTC and Ryujong Credit Bank
Two entities, Korea Mangyongdae Computer Technology Company (KMCTC) and Ryujong Credit Bank, were also sanctioned. KMCTC operates IT worker delegations in China, using local intermediaries to conceal illicit funds tied to North Korean workers. Ryujong Credit Bank allegedly facilitated international transfers for North Korean groups involved in sanctions evasion.
### U.S. Strategy Against North Korean Cyber and Military Financing
These sanctions form part of the U.S. strategy to disrupt financial networks that support North Korea’s military and cyber operations. By targeting individuals and institutions involved in laundering cryptocurrency proceeds, the Treasury aims to curtail the regime’s ability to fund its weapons programs and expand its cyber activities.
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*Source: Blockonomi*
https://bitcoinethereumnews.com/crypto/u-s-hits-north-korean-bankers-with-sanctions-over-crypto-laundering/
