The United States has imposed sanctions on North Korean bankers suspected of laundering stolen cryptocurrencies

The US Treasury's Office of Foreign Assets Control (OFAC) has announced a new round of sanctions against bankers, Financial Institutions Groups, and related entities for their involvement in laundering money and transferring cryptoassets obtained through cybercrime to North Korea to fund its nuclear weapons program.
North Korea has stolen more than $3 billion in digital assets through malicious software and social engineering attacks over the past three years, more than any other state-linked actor, the US Treasury said. The targets include North Korean bankers Jang Kuk Chol and Ho Jong Son, who are accused of managing funds, including about $5.30 million in cryptocurrency, on behalf of sanctioned First Credit Bank. The Treasury noted that North Korea relies on a network of bank representatives, company shelves and Financial Institution Group established in the country, Russia and other places for money laundering, cryptocurrency theft and sanctions evasion. The US has previously warned companies to be wary of North Korean IT practitioners with disguised identities infiltrating the financial system to engage in illegal activities.