The post North Korean IT Workers Caught Laundering Millions in Crypto appeared on BitcoinEthereumNews.com.

The US Department of Justice (DOJ) has seized over $7.74 million allegedly laundered on behalf of the North Korean government. The sweeping civil forfeiture action followed a probe into an elaborate crypto scheme involving stolen American identities and fraudulent remote work. North Korean Operatives Pose as Job Candidates Filed in the US District Court for the District of Columbia, the complaint details how North Korean IT workers posed as American citizens to land jobs at US blockchain and tech firms. Their salaries, often paid in stablecoins like USDC and USDT, were covertly funneled back to North Korea using advanced laundering tactics. The FBI’s investigation revealed that these operatives used stolen or fake IDs to bypass KYC checks. The IDs also helped them gain access to remote roles, sometimes through job platforms or US-based intermediaries. The goal was to generate crypto revenue to support North Korea’s heavily sanctioned weapons program. “The FBI’s investigation has revealed a massive campaign by North Korean IT workers to defraud U.S. businesses by obtaining employment using the stolen identities of American citizens. All so the North Korean government can evade US sanctions and generate revenue for its authoritarian regime,” said Assistant Director Roman Rozhavsky of the FBI Counterintelligence Division. Once crypto was obtained, the operatives allegedly laundered it through “chain hopping.” Other mechanisms included token swapping and even purchasing NFTs to obfuscate the trail. The funds were reportedly routed through shell accounts and eventually funneled to senior North Korean officials. The filing names officials such as Sim Hyon Sop and Kim Sang Man, both sanctioned by the US Treasury. North Korea has dispatched thousands of skilled IT workers abroad with the aim of deceiving U.S. and other businesses worldwide into hiring them as freelance IT workers so they can support North Korean cyber operations and generate…

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Filed under: News - @ June 8, 2025 2:21 pm