US Department of Justice Working on Seizing 280 Crypto Accounts
The US government is looking to seize 280 cryptocurrency accounts that were used by North Korean hackers who reportedly stole millions of dollars of digital assets from two crypto exchanges.
A civil forfeiture complaint is filed by the US Department of Justice. Acting Assistant Attorney General Brian Rabbitt of the Justice Department’s criminal division in a statement said,
“Today’s action publicly exposes the ongoing connections between North Korea’s cyber-hacking program and a Chinese cryptocurrency money laundering network.”
The hackers also used Chinese traders to launder their funds who were charged by the US officials for laundering more than $100 million in crypto on behalf of North Korea — Pyongyang’s way of circumventing sanctions.
The United Nations Security Council first imposed sanctions on North Korea in 2006 to curb its funding for nuclear and ballistic missile programs.
In a report last year, the UN said the country had generated an estimated $2 billion through “widespread and increasingly sophisticated” cyberattacks to steal from crypto exchanges and banks. North Korea denied the allegation, calling them a “fabrication” to tarnish its image.