The U.S. Department of Justice seeks to confiscate $7.74 million in encryption assets obtained through the false identification of North Korean IT workers.

2025-06-06 10:28:04

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Golden Finance reported that the U.S. Department of Justice has taken action to seek the forfeiture of 7.74 million dollars in Crypto Assets. These Crypto Assets are allegedly earned by North Korean IT workers using false identification and working as remote contractors for Blockchain companies.

The U.S. Department of Justice stated in a statement on June 5 that these funds were initially frozen in April 2023 as part of the prosecution against Sim Hyon Sop. Sim Hyon Sop is a banker working in China who is alleged to have assisted North Korean IT workers in money laundering.

The Department of Justice is seeking to seize a variety of cryptocurrencies, including stablecoins and Bitcoin (BTC) in varying amounts, as well as non-fungible tokens (NFTs) and Ethereum Name Service (ENS) domains stored in multiple self-custody wallets and accounts on a trading platform, according to a civil forfeiture complaint filed June 5 in federal court in Washington, D.C.

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