The US Treasury has sanctioned a crypto cash-out network accused of converting earnings from North Korean undercover IT workers into funds for the country's weapons programs. The October 28 action targets 10 individuals and one entity, including two Russian nationals who allegedly facilitated approximately $5.5 million in crypto transactions for North Korean operations.

Separately, Chainalysis identified a suspected North Korean developer who contributed code to blockchain projects and received regular stablecoin payments, which were then traced through Ethereum to sanctioned Russian intermediaries. Chainalysis estimates that North Korean IT worker schemes generate between $250 million and $600 million in annual revenue for the regime. The Office of Foreign Assets Control (OFAC) identified specific Ethereum and Tron addresses associated with the sanctioned individuals.