US Sanctions Russian Crypto Brokers Over North Korean IT Fraud

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure TLDR The US Treasury has sanctioned 10 individuals and one entity linked to North Korean IT worker fraud. Two Russian nationals, Ilya Boykov and Vitold Obertas, allegedly converted millions in crypto for North Korea. The Treasury also designated a North Korean-run center in Russia, along with eight crypto addresses on Ethereum and Tron. The schemes use fake identities to land jobs at legitimate firms and send wages to Pyongyang’s weapons programs. Treasury Targets Crypto Conversion Networks The Treasury Department’s Office of Foreign Assets Control (OFAC) announced the sanctions on October 28. The action goes after financial intermediaries and workers based in Russia and North Korea who support IT worker operations. Treasury says Boykov exchanged and converted about $3.5 million in crypto for Alis, a company sanctioned in March 2024 over links to North Korean IT workers. Obertas allegedly handled nearly $2 million in crypto conversions and at least $1.25 million in other currency transactions for North Korean officials since January 2025. How the IT Worker Schemes Operate North Korea...