COINTELEGRAPH · 2026-10-29 12:39 UTC

Chainalysis traces North Korean crypto cash-outs through Garantex

Chainalysis identified Russian intermediaries helping North Korean IT workers cash out millions in cryptocurrency through Garantex exchange. US Treasury sanctioned 10 individuals and one entity on Wednesday, including Russians Boykov and Obertas who converted $3.5 million and $2 million in crypto respectively for North Korean schemes. North Korean IT workers using false identities have stolen over $900,000 from crypto companies and are suspected of funding weapons programs.

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