The Interesting World of North Korean Crypto Scams

Key Points

1. Four North Korean nationals (Kim Kwang Jin, Kang Tae Bok, Jong Pong Ju, and Chang Nam Il) were charged for posing as remote blockchain workers to steal cryptocurrency from U.S. and Serbian companies.

2. The suspects allegedly stole $915,000 in crypto, including $175,000 siphoned by Jong and $740,000 exploited by Kim through smart contract vulnerabilities.

3. The DOJ claims the scheme was part of North Korea's broader strategy to evade sanctions and fund weapons programs, as stated by Assistant Attorney General John A. Eisenberg.

4. The charges are part of the DOJ's DPRK RevGen: Domestic Enabler Initiative, which has seized 30 financial accounts, 200 laptops, and shut down 20 fake websites across 16 states.

5. A separate civil complaint revealed North Korean IT contractors funneled $7.74 million in crypto to Pyongyang while working for over 100 U.S. companies.