US Justice Department Targets $7.7 Million Related to North Korea’s Crypto Laundering
Recently, the US Department of Justice (DoJ) filed a complaint to forfeit over $7.74 million in cryptocurrency linked to North Korean laundering schemes. The DoJ’s actions are based on a broader scheme wherein North Korean IT workers secured illegal jobs abroad, using forged identification.
In a press release published on June 5, 2025, the DoJ provided insight into the activities involving these workers. They allegedly collaborated with individuals like Sim Hyon Sop, linked to the North Korean regime.
🚨 US Moves to Seize $7.74M Crypto in North Korean Laundering Scheme!
🔹 KEY DETAILS: DOJ targets $7.74M in crypto + NFTs held in self-custody wallets/Binance accounts. Funds linked to North Korean IT workers using fake identities to infiltrate blockchain firms as remote… — Bitcoin Weirdo (@Bitcoin_Weirdo) June 6, 2025
Matthew Galeotti from the Justice Department emphasized that this forfeiture demonstrates North Korea’s manipulation of the cryptocurrency sector to support illicit operations and affirmed the department’s commitment to safeguarding the cryptocurrency ecosystem.
Technicalities of the North Korean Crypto Laundering Operations
According to the DoJ’s complaint, these workers not only disguised their true location but also bypassed company security measures with illicit ID documents. They frequently paid themselves in stablecoins tied to the USD and funneled the funds back through various means, including creating accounts under false identities and converting funds into different cryptocurrencies.
Washington’s Renewed Crackdown on Money Laundering
The filing by the DoJ reflects a serious response from US authorities against North Korean money laundering attempts. Jeanine Ferris Pirro stated, “Crime may pay in other countries, but that’s not how it works here. Sanctions are in place… and we will diligently investigate and prosecute anyone who tries to evade them.”
North Korean hackers have reportedly started using AI to refine their schemes, prompting actions from major companies like Google and OpenAI to remove accounts tied to these operations.
Key Takeaways
- North Korean IT workers misused fake IDs for remote work in the US.
- AI has been integrated into their operations to secure employment.
- OpenAI and Google have taken steps against North Korean-linked accounts.
