Amnokgang Technology Development Company
Summary
Amnokgang Technology Development Company is a North Korean state-controlled IT firm established in 1982 and headquartered in Pyongyang. The U.S. Treasury's Office of Foreign Assets Control (OFAC) sanctioned it on March 12, 2026, for managing overseas DPRK IT worker delegations that allegedly generated nearly $800 million in illicit revenue in 2024 to fund North Korea's weapons of mass destruction programs. Seven cryptocurrency addresses across Ethereum and Tron networks were designated, with TRM Labs reporting over $12 million in tracked on-chain transactions through those addresses.
Connected Entities
5 entities · 10 linked investigations- TNrX2FwrHKoo4XACGkmSzqeK4pdnKYn6Z7→mentioned with→Amnokgang Technology Development Company(50%)
- TDe2UNAvuUnTbbDo7518eMe3TXN5qJW8Ft→mentioned with→Amnokgang Technology Development Company(50%)
- TEEYCuGDyeNkuDj4u6GQRXxXo3Nh29r2vP→mentioned with→Amnokgang Technology Development Company(50%)
- + 4 more
Timeline(11 events)
1982-01-01
Amnokgang Technology Development Company incorporated in Pyongyang, North Korea.
OpenSanctions / OFAC SDN List2017-09-26
OFAC sanctions Cheil Credit Bank, a DPRK financial institution later identified as a downstream recipient of Amnokgang-linked crypto flows.
Elliptic Blog2023-04-01
OFAC initially designates Sim Hyon Sop, China-based representative of Korea Kwangson Banking Corp (KKBC), who later received funds connected to Amnokgang's IT worker network.
U.S. Department of the Treasury2023-06-01
Yun Song Guk begins leading Amnokgang-affiliated IT worker groups operating out of Boten, Laos (approximate start date per OFAC designation).
U.S. Department of the Treasury press release sb04162023-07-01
Nguyen Quang Viet (CEO of Quangvietdnbg) begins converting IT worker earnings to cryptocurrency for Amnokgang-linked North Korean nationals; the conversion activity spans approximately mid-2023 to mid-2025.
U.S. Department of the Treasury press release sb04162024-12-01
DOJ indicts 14 DPRK nationals in connection with multi-year fraudulent IT worker schemes generating revenue for North Korea, providing judicial context for the broader network Amnokgang supports.
U.S. Department of Justice2024-01-01
DPRK IT worker schemes — of which Amnokgang is a principal organizational node — collectively generate nearly $800 million in illicit revenue throughout 2024, per OFAC estimate.
U.S. Department of the Treasury press release sb04162024-01-01
York Louis Celestino Herrera, based in Spain, begins alleged collaboration with Yun Song Guk on IT service contracts connected to Amnokgang's labor export network.
U.S. Department of the Treasury press release sb04162026-03-12
OFAC designates Amnokgang Technology Development Company, co-designating Quangvietdnbg International Services Company and six individuals (Nguyen Quang Viet, Do Phi Khanh, Hoang Van Nguyen, Hoang Minh Quang, Yun Song Guk, York Louis Celestino Herrera). Seven Amnokgang cryptocurrency addresses across Ethereum and Tron are simultaneously designated.
U.S. Department of the Treasury press release sb04162026-03-13
Vietnam revokes business license of co-designated Quangvietdnbg International Services Company following U.S. sanctions announcement.
The Korea Times2026-04-16
The Korea Times publishes detailed reporting on Quangvietdnbg's laundering methods, including Telegram channel operations (1,345 members), bulk Payoneer account purchases, and P2P crypto trading on Paxful and Facebook.
The Korea TimesDecision Log
- hash: 9UF87iUemayQ1KzBJxHfvfubQpHpJLTk8b9rtX14FTCc
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 6/3/2026, 12:07:52 AM
last updated: 6/3/2026, 12:07:56 AM
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