Blockchain analytics firm Chainalysis traced a network of Russian intermediaries that helped North Korean IT workers cash out millions of dollars in cryptocurrency. The US Treasury's OFAC sanctioned 10 individuals and one entity for supporting North Korean government-run IT worker schemes that it said fund weapons programs. Boykov converted about $3.5 million in crypto for sanctioned company Alis since 2024, while Obertas handled nearly $2 million in conversions for North Korean officials since January 2025. In one example, a wallet linked to a North Korean IT worker received stablecoin payments, converted them into Ether and moved the funds through Boykov to the Russian exchange Garantex.
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