US sanctions Russians aiding North Korean crypto cash-outs
Briefing by News4U · First published
Cointelegraph reports that the US Treasury sanctioned 10 individuals and one entity, including Russian nationals Ilya Aleksandrovich Boykov and Vitold Viktorovich Obertas, for helping North Korean IT workers cash out cryptocurrency to fund weapons programs. Chainalysis traced flows in which stablecoins were converted to Ether and sent via consolidation addresses to Boykov, who then transferred funds to the Russian exchange Garantex. The report also notes a June 2025 DOJ case charging four North Korean nationals with stealing over $900,000 from US and Serbian crypto firms. [1]
Sources
- Chainalysis traces North Korean crypto cash-outs through Garantex
Cointelegraph · · Full text