OFAC sanctioned six individuals and two firms tied to North Korean IT fraud schemes. North Korea’s IT schemes stole $800M in 2024, funding nuclear and missile programs. DPRK hackers stole $2.02B in crypto in 2025, nearly 60% of global crypto thefts. The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on March 12 sanctioned six individuals and two companies for running North Korean IT schemes that defrauded American businesses. These operations brought in nearly $800 million in 2024, money the DPRK used to fund its weapons of mass destruction programs. Secretary of the Treasury Scott Bessent said, “The North Korean regime targets American companies through deceptive schemes carried out by its overseas IT operatives, who weaponize sensitive data and extort businesses for substantial payments.” The designations span North Korea, Vietn… Read The Full Article OFAC Targets North Korean IT Scheme Defrauding U.S. Firms On Coin Edition .
