US Edition
United States Seizes $7.44 Million in North Korean Crypto Scam
- The U.S. Department of Justice announced on Thursday it seized $7.74 million linked to a North Korean cryptocurrency laundering scheme.
- This seizure resulted from investigations into North Korean IT workers who illegally gained employment and funneled wages to the regime, using stolen U.S. identities.
- The scheme involved complex laundering methods, false accounts, and fronts operated by North Korean nationals including Sim Hyon Sop and Kim Sang Man, linked to the Foreign Trade Bank and Chinyong.
- Matthew R. Galeotti emphasized that this forfeiture case once more exposes how the North Korean regime leverages digital currencies to support its illegal activities.
- The forfeiture marks part of ongoing efforts to disrupt North Korea's illicit revenue streams that sustain its destabilizing agenda and violate U.S. sanctions.
19 Articles
19 Articles
Justice Department seeks forfeiture of $7.74M in North Korean crypto laundering
The U.S. Department of Justice filed a complaint on Thursday seeking the forfeiture of over $7.74 million in cryptocurrency that North Korean IT workers allegedly laundered to fund the country’s weapons programs while evading American sanctions. The civil forfeiture complaint targets funds connected to a broader scheme in which North Korean IT workers obtained illegal […]
DOJ seizes $7.7M from crypto funds linked to North Korea’s IT worker scheme
Federal authorities on Thursday said they seized $7.74 million from North Korean nationals as they attempted to launder cryptocurrency obtained by IT workers who gained illegal employment and funneled the wages to the North Korean regime. The allegedly illegally obtained funds were linked to Sim Hyon Sop, a representative of North Korean Foreign Trade Bank, and Kim Sang Man, CEO of Chinyong, an outfit associated with North Korea’s Ministry of De…
Justice Department moves to confiscate $7.7 million of allegedly stolen crypto as North Korean IT workers infiltrate U.S. companies
The U.S. Department of Justice (DOJ) wants to confiscate $7.7 million worth of cryptocurrency seized in connection with an alleged scheme to launder money on behalf of the North Korean government. The DOJ filed a civil forfeiture complaint—a type of civil lawsuit in which the government tries to seize property that it says is linked to criminal activities—on Thursday. The complaint alleges that “North Korean IT workers obtained illegal employme…
DOJ Seeks Forfeiture of $7.74 Million Tied to North Korean IT Worker Scam
The Justice Department filed a civil forfeiture complaint on June 5, alleging that North Korean IT workers laundered more than $7.74 million in cryptocurrency to fund the country’s weapons program and evade U.S. sanctions. According to court documents, the workers allegedly obtained remote jobs at blockchain and tech companies using fake identities, and funneled the illegally earned cryptocurrency back to North Korea through a network of launder…
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