The US Treasury has announced sanctions on six individuals and two companies involved in a fraudulent IT worker scheme linked to North Korea, which frequently targets the cryptocurrency sector.

The Office of Foreign Assets Control (OFAC) indicated on Thursday that it has imposed sanctions on suspected facilitators of IT fraud networks based in North Korea, Vietnam, Laos, and Spain, which fund North Korea’s weapons programs.

The sanctioned entities include Amnokgang Technology Development Company, a North Korean firm purportedly managing overseas IT workers, and Nguyen Quang Viet, the CEO of Quangvietdnbg International Services Company Limited, which has been accused of laundering around $2.5 million in cryptocurrency for the fraud network.

Among those sanctioned are Do Phi Khanh, Hoang Van Nguyen, Yun Song Guk, Hoang Minh Quang, and York Louis Celestino Herrera for their involvement in the DPRK IT worker networks.

Reported by Treasury Department Source: Treasury Department

The sanctions prohibit any US financial transactions with the named individuals and companies, freezing any connected assets under the threat of civil and criminal penalties.

Fraudulent tech workers associated with North Korea have been active, infiltrating various sectors, including the blockchain domain. An April 2025 report from Google revealed that the infrastructure supporting these schemes has expanded globally.

Worker Fraud Rings Present a Growing Threat: Analysis by Chainalysis

OFAC’s sanctions are aimed at 21 cryptocurrency addresses throughout Ethereum and Tron. Chainalysis mentioned that the designation of addresses across diverse blockchain networks indicates North Korea’s multi-chain strategy for fund movement.

“Cryptocurrency businesses should screen all counterparties against updated OFAC sanctions lists, be alert to patterns consistent with IT worker fraud, and monitor for unusual payment patterns.”