North Korea’s $600 million fake-worker empire has a hidden crypto connection

US authorities sanctioned a crypto cash-out network accused of turning North Korean undercover IT workers' earnings into weapons funding. The Oct. 28 Treasury action targets 10 individuals and one entity, including two Russian nationals accused of facilitating approximately $5.5 million in cryptocurrency transactions for North Korean operations over different periods. A separate Chainalysis investigation traced salary payments to an undercover developer who contributed code to blockchain and decentralized finance (DeFi) projects, showing how earnings from legitimate crypto businesses reached Russian financial intermediaries. North Korean operatives have increasingly used stolen identities, fraudulent documents, and fabricated employment histories to secure remote jobs at legitimate businesses, including cryptocurrency companies.

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