DOJ indictments and OFAC sanctions detailed how North Korean Foreign Trade Bank representative Sim Hyon Sop allegedly helped launder stolen cryptocurrency and IT-worker earnings for the DPRK. The alleged scheme used OTC traders Wu Huihui and Cheng Hung Man, Hong Kong-based front companies, and sham payments to convert crypto into fiat and purchase goods for North Korea while evading sanctions. TRM Labs connects this activity to older DPRK trade-based money-laundering networks involving FTB and Korea Kwangson Banking Corp., showing how traditional banking facilitators now support crypto theft off-ramps. The excerpt also notes that North Korean IT workers used fake personas to obtain tech and crypto jobs, receive stablecoin payments, and route earnings back through Sim, creating both revenue and potential access risks for victim organizations.