UNITED STATES OF AMERICA v. 280 VIRTUAL CURRENCY ACCOUNTS

2024-05-08 USCOURTS

https://www.govinfo.gov/app/details/USCOURTS-dcd-1_20-cv-02396/USCOURTS-dcd-1_20-cv-02396-0

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The U.S. District Court ordered forfeiture of 279 virtual currency accounts tied to North Korea-linked exchange hacks and laundering activity. The opinion describes funds stolen from exchanges in 2018 and 2019, including about $48.5 million from one exchange, then routed through chain hopping, falsified KYC accounts, VPN use, and exchange accounts to conceal origin. It cites U.N. reporting that North Korean operatives use large-scale cyberattacks against financial institutions and cryptocurrency exchanges to raise revenue for weapons programs. The case links the defendant properties to exchange hacks referred to as Exchanges 2, 3, and 10 and to addresses and IP infrastructure associated with earlier North Korean operations.

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