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The guardian of the Ministry of Finance of the Ministry of Finance has added the North Korean national song Kum Hyok to his list of “specially designated nationals”, which claims to be a “harmful computer actor” bound to the North Korean hacking group.
On Tuesday, the Office for Foreign Asset control moved to blocking the song from the global financial system and claimed that he was working on the location of other North Korean officials in various companies as workers. These IT staff would then send funds back to North Korea and, in some cases, have found ways to use the society they have worked for to generate further revenue.
The crypto industry was hard to hit with these types of schemes, with numerous major theft due to the efforts of North Korean hackers.
“KRPR generates significant revenue through deployment of IT workers who fraudulently acquire employment with companies around the world, including the technology and virtual industry,” he said Tuesday’s edition.
By the end of last month, a crypto investigator and analyst Zacxbt He said “more projects … it was used”, probably because of hiring North Korean IT workers as developers.
Although the Tuesday’s edition of the Ministry of Finance mentioned the last hacks of crypto projects, no specific crypto was named in their list of sanctions. They noticed that the Ministry had previously sanctioned the Lazarus Group, which investigators linked to various crypto hactes in the last few years, including Theft of $ 625 million from the Infinity Axie and this year’s massive $ 1.5 billion Bybits.
“DPRK IT workers often adopt projects that include virtual currency, and use virtual monetary exchanges and trade platforms to manage the funds they receive for contractual work, as well as for washing and provoking these DPRK funds,” the US Treasury said on Tuesday.
‘The non -allowing generation of income’
Ari Redbord, the global chief of political and government affairs at TRM Labs, said that IT staff “served as a ramp of both illegal income generation and eventual activity, especially in cryptal space”.
“One of the remarkable aspects of today’s designation is the explicit reference to North Korean IT workers who work from China and Russia,” he said, adding that it shows “growing harmonization” between DPRK and certain jurisdictions.
“This event also fits into a wider model. In the last month, the Ministry of Finance has taken several steps to use IT workers in North Korea to inflect illegal yields back to Pyongyang often washing crypto exchange and anonymized platforms,” he said.
“The song represents the operating layer behind the following schemes: not a hacker but an activator. And so it is equally important to disrupt the building.
