U.S. Seizes $7.74M in Crypto Tied to North Korea's Global Fake IT Worker Network


The U.S. Department of Justice has seized approximately $7.74 million in cryptocurrency tied to a covert North Korean operation that posed as legitimate IT workers in Western firms. Under fake identities, North Korean operatives gained remote IT jobs and were compensated in stablecoins such as USDT and USDC. To conceal the illicit proceeds, they used a laundering chain involving small transfers, token “chain-hopping,” and NFT purchases. The DOJ's civil forfeiture complaint reveals that these funds were funnelled through front entities, including one tied to North Korea’s Ministry of Defense. This scheme highlights not only state-sponsored financial subterfuge but also a growing vulnerability in remote work hiring practices—specifically how cyber deception can bypass traditional security measures. The operation ran from October 2020 to October 2023, with individuals from the U.S. and abroad indicted in connection. The seizure marks a milestone in combating state-enabled crypto-financed cyber campaigns.

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