Four North Korean citizens have been charged with fraud and money laundering in connection with the theft of nearly $1 million in cryptocurrency using fake and stolen identities.
Charges and Case Details
On Monday, the U.S. Attorney's Office announced charges against Kim Kwang Jin, Kang Tae Bok, Jong Pong Ju, and Chang Nam Il. They worked remotely for IT companies in the U.S. and Serbia, using counterfeit documents to hide their North Korean citizenship.
Methods of Cryptocurrency Theft
The defendants exploited their positions to siphon funds. In February 2022, Jong stole approximately $175,000 in cryptocurrency. The following month, Kim manipulated the source code of smart contracts to steal an additional $740,000. The stolen funds were laundered through mixers and sent to exchange accounts controlled by Kang and Chang.
Response from the U.S. Department of Justice
This case is part of the DOJ's initiative targeting North Korea's illegal revenue streams and U.S.-based enablers. In another incident, federal agents conducted raids across 16 states, seizing nearly 30 financial accounts and about 200 computers from so-called 'laptop farms'.
The charges against the four North Koreans highlight the U.S. government's efforts to combat cybercrimes and threats from North Korea.
