US Sanctions Russians Over North Korean Crypto Money Laundering Scheme
The US has imposed sanctions on two Russian nationals for facilitating cryptocurrency cash-outs linked to North Korean IT workers.
The US has imposed sanctions on two Russian nationals for facilitating cryptocurrency cash-outs linked to North Korean IT workers. This is an original Token Times brief based on reporting by CryptoPotato, with live market data added, as of Sun, 01 Nov 2026 12:15:01 UTC.
This action highlights the growing focus on disrupting North Korea's crypto-enabled revenue streams, which the UN estimates generate up to $600 million annually for the regime.
- US sanctions target two Russians for laundering North Korean crypto funds
- Scheme generates $250M-$600M annually for North Korea, according to UN estimates
- Action reflects US efforts to curb North Korea's crypto-based financing
- US Sanctions North Korean IT Worker Network Operating in Russia
- US Sanctions Russians Over North Korean Crypto Money Laundering Scheme — this brief
The US government has imposed sanctions on two Russian nationals, Alexey Vasiliev and Aleksandr Marchenko, for their involvement in a cryptocurrency cash-out scheme that benefits North Korean IT workers.
According to the US Treasury Department, the scheme is part of a broader effort by North Korea to generate revenue through illicit activities, including cyberattacks and cryptocurrency theft.
The United Nations estimates that North Korea's crypto-enabled operations generate between $250 million and $600 million annually, highlighting the significant financial impact of such activities on the regime.
This action by the US is part of a broader strategy to disrupt North Korea's ability to use cryptocurrencies for money laundering and other illicit purposes. The sanctions are intended to deter individuals and entities from facilitating such transactions.
The broader crypto market remains relatively stable, with a total market cap of $2.68 trillion and 
Bitcoin showing a modest 24-hour increase of 0.15%. The Fear & Greed Index stands at 34, indicating a 'Fear' sentiment in the market.
US Sanctions Russians Over North Korean Crypto Money Launder — questions & answers
What is the estimated value of North Korea's crypto-based revenue?
The UN estimates North Korea's crypto-based revenue at $250M-$600M annually.
Who are the individuals sanctioned by the US?
The US sanctioned Alexey Vasiliev and Aleksandr Marchenko for laundering North Korean crypto funds.
Why did the US impose these sanctions?
The sanctions aim to disrupt North Korea's crypto-enabled money laundering and revenue generation.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from CryptoPotato. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.