North Korean IT Workers Charged in $915K Crypto Theft, DOJ Says
Four North Korean nationals have been charged in the state of Georgia with wire fraud and cash laundering after posing as distant IT employees at US and Serbian blockchain corporations and stealing nearly $1 million in crypto, prosecutors mentioned Monday.
According to the US Department of Justice (DOJ), Kim Kwang Jin, Kang Tae Bok, Jong Pong Ju and Chang Nam Il posed as distant IT builders utilizing pretend and stolen identities to hide their North Korean citizenship.
The group initially operated from the United Arab Emirates in 2019 earlier than securing jobs at an Atlanta-based blockchain startup and a Serbian digital token firm between late 2020 and mid-2021.
Prosecutors mentioned Kim and Jong submitted fraudulent paperwork, together with stolen and fabricated IDs, to safe their positions, a tactic US Attorney Theodore S. Hertzberg referred to as a “unique threat” to companies hiring distant IT employees.
Related: North Korea targets crypto employees with new info-stealing malware
Four North Koreans steal $915,000 in crypto
Once inside, the defendants used their privileged entry to steal substantial sums. In February 2022, Jong siphoned about $175,000 in crypto. The following month, Kim exploited the supply code of sensible contracts to steal $740,000.
The stolen funds have been then laundered via mixers and despatched to trade accounts managed by Kang and Chang, all arrange utilizing fraudulent Malaysian IDs, investigators mentioned.
“These schemes target and steal from US companies and are designed to evade sanctions and fund the North Korean regime’s illicit programs, including its weapons programs,” mentioned John A. Eisenberg, assistant legal professional normal for nationwide safety.
The case was a part of the DOJ’s DPRK RevGen: Domestic Enabler Initiative, a program launched in 2024 focusing on North Korea’s illicit income streams and US-based enablers.
Related: North Korean hackers arrange 3 shell corporations to rip-off crypto devs
DOJ cracks down on North Korean crypto fraud
In one other incident, federal brokers additionally carried out coordinated raids throughout 16 states, seizing nearly 30 monetary accounts, over 20 fraudulent web sites and about 200 computer systems from so-called “laptop farms” that enabled North Korean operatives to look as if they have been working from the US.
The DOJ introduced Sunday that the schemes concerned North Korean IT employees posing as US residents, utilizing stolen identities to achieve jobs at over 100 American corporations, funneling thousands and thousands to Pyongyang and even accessing delicate navy knowledge.
Last month, the DOJ filed a civil forfeiture criticism to grab $7.74 million in crypto allegedly earned by North Korean IT employees posing as distant blockchain contractors by utilizing pretend identities.
Magazine: North Korea crypto hackers faucet ChatGPT, Malaysia highway cash siphoned: Asia Express
