US EditionDOJ Seeks To Seize $7.7 Million In Bitcoin, Ethereum, NFTs Allegedly Laundered By North Korean IT Workers
- On June 5, the U.S. Department of Justice submitted legal documents seeking to confiscate $7.74 million worth of cryptocurrency and NFTs linked to a North Korean money laundering scheme.
- This action follows the April 2023 indictment of Sim Hyon Sop, Wu HuiHui, Cheng Hung Man, and another individual for aiding North Korea's IT workers in evading U.S. Sanctions.
- North Korean IT workers used stolen American identities to secure tech jobs, often paid in stablecoins, to launder funds which were funneled through complex blockchain methods and middlemen.
- FBI Assistant Director Roman Rozhavsky revealed that North Korean IT operatives are conducting extensive efforts to scam U.S. Companies by securing jobs under stolen American identities, generating funds to support the authoritarian government.
- The seizure represents a key element of a comprehensive effort to undermine North Korea's financial networks that fund its weapons programs and circumvent sanctions via illicit cryptocurrency activities.
15 Articles
15 Articles
DOJ Seeks To Seize $7.7 Million In Bitcoin, Ethereum, NFTs Allegedly Laundered By North Korean IT Workers
The U.S. Department of Justice (DoJ) has filed a civil forfeiture complaint to seize over $7.74 million in cryptocurrency and NFTs, allegedly connected to North Korean money laundering operations. What Happened: The Justice Department is moving to seize a range of cryptocurrencies, including stablecoins, Bitcoin (CRYPTO: BTC), NFTs, and Ethereum (CRYPTO: ETH) Name Service domains—stored in self-custody wallets and Binance accounts. These assets …
A domestic loss that triggered a legal odyssey James Howells, a Newport (South Wales) computer computer, starred in 2013 as one of the most costly mistakes in the history of the digital age. During a routine cleaning of his office, he accidentally threw a hard drive containing the private keys of 8,000 Bitcoins into the trash. At that time, the value of the cryptocurrency was as little as $1,000 per unit, which was a painful but unrecoverable lo…
DailyTruthReport
Bitcoin InsiderUS Seeks Forfeiture of $7.7M in Crypto Linked to North Korean IT Workers
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure The United States Department of Justice (DOJ) has filed a civil forfeiture complaint seeking to seize approximately $7.74 million in cryptocurrency allegedly connected to a scheme involving North Korean IT workers. According to a June 5 press release from the DOJ, the... The post US Seeks Forfeiture of $7.7M in Crypto Linked to North Korean IT Wor…
U.S. Targets $7.7M In Crypto Tied To North Korean IT Scam
The Department of Justice (DOJ) in the United States has started legal proceedings to take $7.7 million worth of digital assets and cryptocurrency that are connected to a secret North Korean operation. A civil forfeiture action filed in the U.S. District Court for the District of Columbia says that the digital money was made through fake work deals and laundered through a network of decentralised exchanges and crypto wallets. The plan allegedly …
DOJ files complaint to get nearly $8 million in stolen funds back from North Korea
<p>The Justice Department on Thursday filed a civil complaint in Washington, D.C., to retrieve some $7.74 million allegedly pilfered by a North Korean IT worker scheme, adding another chapter to a storied history of DPRK…
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