Key facts
- Chainalysis mapped a network of Russian intermediaries helping North Korean IT workers cash out millions in crypto.
- US Treasury sanctioned 10 individuals and one entity for supporting North Korean IT worker schemes.
- Ilya Aleksandrovich Boykov converted about $3.5 million in crypto for sanctioned company Alis since 2024.
- Vitold Viktorovich Obertas handled nearly $2 million in crypto conversions for North Korean officials since January 2025.
- Funds were transferred through consolidation addresses to Boykov, then to Garantex for cashing out.
Blockchain analytics firm Chainalysis has detailed a network of Russian intermediaries used by North Korean IT workers to cash out millions of dollars in cryptocurrency. The US Treasury Department sanctioned 10 individuals and one entity on Wednesday, accusing them of facilitating these schemes to fund North Korea's weapons programs. Among those sanctioned were Russian nationals Ilya Aleksandrovich Boykov and Vitold Viktorovich Obertas, who handled significant amounts of cryptocurrency conversions for sanctioned entities and North Korean officials.