The funds were first restrained by the U.S. after being tied to Sim Hyon Sop, a North Korean Foreign Trade Bank representative who was indicted in 2023 after being accused of conspiring with IT workers to pilfer the money.
“For years, North Korea has exploited global remote IT contracting and cryptocurrency ecosystems to evade U.S. sanctions and bankroll its weapons programs,” said Sue Bai, who heads the Justice Department’s National Security Division. “Today’s multimillion-dollar forfeiture action reflects the Department’s strategic focus on disrupting these illicit revenue schemes.”
Court documents say North Korea obtained stolen cryptocurrency, in part, through these remote worker schemes that have long been tracked by officials and private cybersecurity firms. The sham workers were able to obtain remote work by bypassing due diligence checks, and largely obtained work at blockchain development companies.
“These tactics hid the North Koreans’ true location and identities, causing unwitting employers to hire them and pay them a salary, often in stablecoins, such as USDC and USDT,” DOJ said in a Thursday statement.
North Korea’s munitions directorate is linked to its ballistic missile research program, which is reported to be frequently funded by covert cryptocurrency transactions. The nation has deployed shadow operatives across the globe who pose as legitimate technology workers, planting themselves inside firms to carry out long-haul sch ..
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