The U.S. Treasury Department sanctions a North Korean IT personnel, accusing him of assisting in cyber espionage activities and cryptocurrency theft

ChainCatcher news, according to CoinDesk, the U.S. Treasury Department's sanctions regulator on Tuesday added North Korean citizen Song Kum Hyok to the "Specially Designated Nationals" list, accusing him of being a "malicious cyber actor" associated with North Korean hacking groups and engaging in cyber espionage.

The action by the U.S. Office of Foreign Assets Control (OFAC) excludes Song Kum Hyok from the global financial system, as he arranged for other North Korean officials to work as IT personnel in multiple companies, who would then funnel funds back to North Korea and also managed to exploit company vulnerabilities for personal gain.