4 North Korean nationals have been charged in Georgia for wire fraud and cash laundering after posing as distant IT employees at US and Serbian blockchain firms and stealing virtually $1 million in crypto, prosecutors introduced Monday.
According to the US Division 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 stated Kim and Jong submitted fraudulent paperwork, together with stolen and fabricated IDs, to safe these positions, a tactic US Lawyer Theodore S. Hertzberg referred to as a “distinctive menace” to companies hiring distant IT employees.
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4 North Koreans steal $915,000 in crypto
As soon as inside, the defendants used their privileged entry to steal substantial sums. In February 2022, Jong siphoned roughly $175,000 in crypto. The next month, Kim exploited the supply code of sensible contracts to steal a further $740,000.
The stolen funds had been then laundered via mixers and despatched to trade accounts managed by Kang and Chang, all arrange utilizing fraudulent Malaysian IDs, investigators stated.
“These schemes goal and steal from US firms and are designed to evade sanctions and fund the North Korean regime’s illicit applications, together with its weapons applications,” stated John A. Eisenberg, assistant legal professional normal for nationwide safety.
The case was a part of the DOJ’s DPRK RevGen: Home Enabler Initiative, a program launched in 2024 concentrating on North Korea’s illicit income streams and US-based enablers.
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DOJ cracks down on North Korean crypto fraud
In one other incident, federal brokers additionally performed coordinated raids throughout 16 states, seizing practically 30 monetary accounts, over 20 fraudulent web sites, and roughly 200 computer systems from so-called “laptop computer farms” that enabled North Korean operatives to look as if they had been working from the US.
The DOJ announced Sunday that the schemes concerned North Korean IT employees posing as US residents utilizing stolen identities to realize jobs at over 100 American firms, funneling hundreds of thousands to Pyongyang and even accessing delicate navy knowledge.
Final month, the DOJ filed a civil forfeiture complaint to seize $7.74 million in crypto allegedly earned by North Korean IT employees posing as distant blockchain contractors utilizing pretend identities.
Journal: North Korea crypto hackers tap ChatGPT, Malaysia road money siphoned: Asia Express
