U.S. DOJ Seizes $15 Million in Crypto Tied to North Korea's Illicit Operations
The U.S. Department of Justice (DOJ) announced a series of new convictions and cryptocurrency seizures linked to North Korea's illicit financial activities. Five defendants have pled guilty for their roles in aiding the Democratic People's Republic of Korea (DPRK) by securing U.S. IT jobs, stealing American identities, and obscuring their origins to collect payroll from U.S. companies.
Most recently, the DOJ seized $15 million in USDT from actors connected to North Korea, linked specifically to the hacking group APT38, which is connected to the North Korean military. The FBI has indicated that North Korea's sanctions-evasion campaign funds its regime and weapons programs and has urged for improved vetting processes for remote workers to mitigate risks.
Earlier in the week, the Scam Center Strike Force confiscated $80 million in stolen assets related to pig-butchering scams, with plans to compensate victims from these seized funds. Meanwhile, discussions are underway regarding the potential use of seized cryptocurrency for establishing a U.S. Bitcoin Reserve and other digital asset reserves, though congressional action may be required to formalize such initiatives.
