US Treasury Sanctions DPRK Ring
The U.S. Treasury sanctioned six people and two entities tied to an $800 million crypto laundering operation that funneled funds to North Korea. The action alleges DPRK IT workers infiltrated companies, routed wages through crypto networks, and moved proceeds to Pyongyang — a major enforcement escalation targeting cross-border laundering hubs reported.
Amnokgang Technology Development Company — founded in 1982 — is tied to seven cryptocurrency addresses on the Ethereum and Tron networks. chainalysis.com Vietnam-based Quangvietdnbg International Services Company Limited and its CEO Nguyen Quang Viet were identified as currency-conversion facilitators, with Nguyen converting roughly $2.5 million into cryptocurrency for DPRK-linked workers between mid‑2023 and mid‑2025. chainalysis.com Blockchain analysis shows 21 flagged addresses spanning Ethereum, TRON and Bitcoin, comprising about 2,583 transactions and a combined on‑chain balance near $292,425.31, with the largest single balance (~$201,828) held at address 0x9be5.... scorechain.com Forensic firms mapped named operatives — Sim Hyon Sop (11 linked addresses), Yun Song Guk (2 addresses) and Hoang Minh Quang (1 Bitcoin address) — and traced operational activity to Vietnam, Laos and Spain, with on‑chain traces running from September 2022 through January 2026. scorechain.com
