# U.S. Treasury Sanctions 11 Over North Korean Crypto Laundering Network

By Riza Dagoc

Canonical URL: https://www.tokenpost.com/news/regulation/42934
Published: 2026-10-28T20:42:09.000Z
Updated: 2026-10-28T20:42:09.000Z
Section: Regulation

> The targets include two Russian nationals, a Russia-based company controlled by North Korea and six affiliated IT workers.

The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) sanctioned 10 people and one company over a network tied to North Korean IT-worker fraud and millions of dollars in crypto conversions.

Treasury said the network involved North Korean IT workers who defrauded U.S. companies and used the proceeds to support North Korea's weapons of mass destruction and ballistic missile programs.

Treasury linked Russian national Ilya Boykov to about $3.5 million in cryptocurrency exchanges for North Korea's Alis company beginning in 2024. It also tied Russian national Vitold Obertas to nearly $2 million in conversions for North Korean officials starting in January 2025.

The sanctions also cover FFTDC, a North Korean-controlled company established in Russia, and six affiliated IT workers. Treasury said those workers generated more than $750,000 in revenue since 2025. The cited activity includes exchanges for Alis, conversions for North Korean officials and income generated by FFTDC's workers.

Australia and the European Union also imposed similar sanctions in October.