filed_stamped_copy_-complaint_20cv2396_0.pdf (963 KB)

The Panel of Experts concluded that North Korea’s “cyberattacks on [South Korean] targets have been increasing in number, sophistication and scope since 2008, including a clear shift in 2016 to attacks focused on generating financial revenue. In or about December 2019, Target Actor 1 attempted to convert ETH to BTC through a cryptocurrency trading platform (“Exchange 9”) which was designed to enable the transfer of one form of cryptocurrency in exchange for another. In 2019, Democratic People’s Republic of Korea cyber actors shifted focus to targeting cryptocurrency exchanges. The investigation of the laundering of the funds stolen from Exchange 2, and funds related to additional hacks, identified a U.S.-based email account (“Target Email 1”) that a criminal actor (“Target Actor 1”) had used to launder funds from the scheme.