US Sanctions Russian & Chinese Firms… Again? 🤡

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Oh, great, another round of sanctions. Because nothing says “we’re serious” like slapping a few names on a list and hoping the bad guys suddenly have a change of heart. 🤷‍♂️

US Treasury, ever the hero of the hour, has sanctioned three individuals and two companies for… helping North Korean IT workers steal crypto. Because nothing says “we’re on top of it” like a slap on the wrist. 🤡

  • U.S. Treasury has sanctioned three individuals and two companies for helping North Korean IT workers steal crypto. Because nothing says “we’re proactive” like a press release. 📢
  • The action expands prior sanctions on Chinyong, a North Korean IT firm that was blacklisted in May 2023. Because nothing says “we’re thorough” like repeating the same moves. 🔄

Under Secretary John K. Hurley, because every press release needs a dramatic voice, said the scam network targeted “American businesses through fraud schemes involving its overseas IT workers.” Because nothing says “we’re concerned” like blaming the victims. 😤

Among the stars of this show: Russian national Vitaliy Sergeyevich Andreyev, Kim Ung Sun (North Korea’s answer to a diplomat), and two companies that somehow managed to avoid jail time. 🕵️‍♂️

How US sanctions target entities aiding North Korean IT workers

Andreyev, the guy who’s basically a crypto version of a magician-except he’s not making things disappear, he’s making them vanish into North Korea’s bank account. 🪄💰

The funds were then routed to Chinyong, a North Korean entity that’s basically the DMV of cybercrime. 🚨

Officials say Andreyev was instrumental in helping North Korea bypass sanctions. Because nothing says “we’re effective” like pretending they’re not getting around the rules. 🕵️‍♂️

Kim Ung Sun, who’s clearly the MVP of this operation, acted as a diplomatic facilitator while stationed in Russia. Because nothing says “we’re trustworthy” like a North Korean official in a foreign embassy. 🇷🇺

Shenyang Geumpungri Network Technology Co., Ltd-because nothing says “legit business” like using fake docs to hide North Korean IT workers. 📄🕵️‍♂️

Korea Sinjin Trading Corporation, which has ties to North Korea’s military. Because nothing says “we’re allies” like funding a regime’s weapons program. 🚀

Chinyong is at the centre of the scam ring

The August 27 designations build on earlier actions targeting Chinyong, which has previously appeared in Treasury investigations for its central role in managing overseas crypto fraud campaigns. Because nothing says “we’re persistent” like going after the same group repeatedly. 🔄

Ties between Chinyong and the North Korean military are well documented, and officials believe it operates as a shadow employer for North Korean IT workers. Because nothing says “we’re transparent” like a shadow employer. 🕳️

North Korea has long been known to fund what Treasury officials call “illicit weapons of mass destruction” via coordinated cyberattacks. Because nothing says “we’re peaceful” like hacking and stealing. 🛡️

A UN report says groups tied to Pyongyang drained $3.6 billion in crypto since 2017. Because nothing says “we’re responsible” like stealing from everyone. 💸

Authorities have gone after operatives and networks, using sanctions, prosecutions, and seizures. Because nothing says “we’re serious” like a mix of bureaucracy and half-measures. 📜

Last month, the Treasury sanctioned a North Korean national for helping hackers use stolen U.S. identities. Because nothing says “we’re secure” like letting hackers in first. 🛡️

Yet bad actors haven’t stopped. Estimates suggest hundreds of North Korean IT operatives are still infiltrating the crypto industry. Because nothing says “we’re safe” like a bunch of hackers in your system. 🕵️‍♂️

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2025-08-28 11:44