U.S. Department of Justice seizes virtual assets earned by North Korean IT personnel through disguised employment
Summary
- The United States Department of Justice has announced that it has begun the process of seizing virtual assets earned by North Korean IT personnel who obtained employment at overseas blockchain companies using fake identities.
- The amount of virtual assets to be seized totals $7.74 million and reportedly encompasses a variety of assets, including Bitcoin, stablecoins, NFTs, and Ethereum Name Service.
- The assets subject to confiscation are said to be stored in multiple self-custody wallets and Binance accounts.
The United States Department of Justice has initiated the process of seizing various virtual assets (cryptocurrencies) earned by North Korean IT personnel who gained employment at overseas blockchain companies using false identities.
According to Cointelegraph on the 6th (local time), the United States Department of Justice (DOJ) announced in a statement the previous day that it had started the process of seizing virtual assets worth $7.74 million, earned by North Korean IT personnel who obtained jobs at overseas blockchain companies under false pretenses.
According to the Department of Justice, the funds in question were already frozen in April 2023, and the case is related to the indictment of banker Shim Hyun-seop, who is based in China, on charges of assisting with money laundering.
The Department of Justice plans to seize a range of assets in this case, including Bitcoin (BTC), stablecoins, NFTs, and Ethereum Name Service (ENS). The assets subject to confiscation are reportedly stored in multiple self-custody wallets and Binance accounts.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
