On June 5, the U.S. DOJ initiated a civil forfeiture lawsuit against 7.74 million USD in cryptocurrency associated with North Korea, aimed at disrupting their military funding efforts.
North Korean IT operatives, including the named mastermind Sim Hyon Sop, are accused of laundering cryptocurrency through stablecoins like USDT and USDC to evade U.S. Sanctions.
The seizure results in increased regulatory scrutiny on crypto payments linked to North Korea, which reportedly utilizes cryptocurrency for nearly 30% of its illegal global transactions.
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