U.S. Sanctions North Korean Bankers Over Crypto Laundering Tied to Cyberattacks

The U.S. Treasury Department has imposed sanctions on eight individuals and two entities associated with North Korean banking activities related to cryptocurrency laundering. These sanctions target parties involved in laundering funds connected to cyberattacks attributed to Pyongyang. The primary objective of this action is to disrupt the financial channels that support North Korea's weapons programs. By focusing on crypto laundering, the Treasury aims to cut off a significant source of funding derived from illicit cyber operations. This move reflects a broader strategy to counteract North Korea's use of digital currencies in circumventing international sanctions. The targeted individuals and entities are believed to play key roles in facilitating these illicit financial flows. Overall, the sanctions represent a concerted effort by the U.S. government to hinder North Korea's ability to finance its weapons development through cyber-enabled means.