TechFlow, June 8 — According to Decrypt, the U.S. Department of Justice filed a civil forfeiture complaint last week seeking to seize $7.74 million in cryptocurrency obtained by North Korean IT workers who used fraudulent identities to secure jobs at American companies.
These North Korean IT workers used fake or fraudulently obtained identities to gain employment at U.S.-based crypto firms, receiving income primarily in stablecoins such as USDC or Tether. They then laundered the funds through various methods, including creating exchange accounts with fake IDs, conducting multiple small transfers, converting between different tokens, purchasing NFTs, and using coin mixers, ultimately transferring the money to the North Korean government.
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