The U.S. Treasury Department has imposed sanctions on Song Kum Hyok, identifying him as a player in North Korea’s cyber operations. This individual was listed under the “Specially Designated Nationals” due to his suspected involvement in facilitating jobs for North Korean IT workers in other countries. The Treasury claims these workers have been linked to various cases of cyber theft and espionage.
Key points:
- The sanctions aim to hinder North Korean officials from obtaining international IT employment.
- Song Kum Hyok is accused of enabling other North Koreans to secure positions that may allow them to siphon money back to the North, potentially through their employers.
The impact of these hackers has significantly affected the crypto industry, resulting in numerous high-profile thefts. “The DPRK generates significant revenue through the deployment of IT workers who fraudulently gain employment with companies around the world, including in the technology and virtual currency industries,” the Treasury release stated.
ZachXBT, a crypto investigator, noted that various projects had been compromised likely due to North Korean IT workers.
Illicit Revenue Generation
Ari Redbord from TRM Labs pointed out that these IT workers often serve as conduits for illicit revenue and can facilitate infiltration activities, especially in the cryptocurrency sector. Notably, this action is part of a broader effort by the Treasury targeting North Korea’s employment of IT workers to channel illicit funds back to the regime via cryptocurrency exchanges.
“The designation highlights the operational level behind such schemes: while not hackers themselves, they are crucial enablers of cyber crime,” Redbord stated.
