The U.S. Department of Justice is taking firm action against a complex money-laundering operation allegedly run by North Korean IT workers. According to a civil forfeiture complaint filed on June 5 in Washington, D.C., nearly $7.74 million worth of cryptocurrency and NFTs are being targeted for seizure. These assets are believed to be linked to North Korean operatives who posed as remote blockchain developers using fake identities to land jobs, mainly with U.S.-based firms. They were paid in stablecoins like USDC and Tether (USDT), and then allegedly laundered the money, the DOJ said in a June 5 statement. using tactics such as token swaps and chain-hopping. Eventually, the funds were funneled back to the North Korean regime through intermediaries, including a China-based banker, Sim Hyon Sop, who has been previously indicted for similar offenses.
Department Files Civil Forfeiture Complaint Against Over $7.74M Laundered on Behalf of the North Korean Government
🔗: https://t.co/T6nh2ETMYY pic.twitter.com/o23HY6C6Zw
— U.S. Department of Justice (@TheJusticeDept) June 5, 2025
The complaint focuses on multiple wallets and Binance accounts holding assets in Bitcoin, Ethereum, and stablecoins. DOJ’s criminal division head, Matthew Galeotti, emphasized that this case showcases how North Korea tries to exploit crypto systems to fund its operations, directly violating U.S. sanctions.
