Overview
- Treasury’s OFAC named eight people and two entities accused of moving funds from ransomware, crypto heists and deceptive overseas IT work into North Korea’s coffers.
- Designated bankers Jang Kuk Chol and Ho Jong Son allegedly managed at least $5.3 million in cryptocurrency tied to sanctioned First Credit Bank and linked to a ransomware group.
- Korea Mangyongdae Computer Technology Company and its president, U Yong Su, were cited for running IT worker delegations in China and using Chinese nationals as banking proxies.
- Ryujong Credit Bank was designated for facilitating international transfers that supported sanctions evasion and crypto laundering for North Korean entities.
- OFAC said DPRK-linked operations diverted more than $3 billion over the past three years, while Elliptic reported over $2 billion in crypto thefts in 2025, and the U.S. measures block property and bar U.S. persons from dealings.