DOJ Seeks To Seize $7.7 Million In Bitcoin, Ethereum, NFTs Allegedly Laundered By North Korean IT Workers

The U.S. Department of Justice (DoJ) has filed a civil forfeiture complaint to seize over $7.74 million in cryptocurrency and NFTs, allegedly connected to North Korean money laundering operations.

What Happened: The Justice Department is moving to seize a range of cryptocurrencies, including stablecoins, Bitcoin (CRYPTO: BTC), NFTs, and Ethereum (CRYPTO: ETH) Name Service domains—stored in self-custody wallets and Binance accounts. These assets are tied to a civil forfeiture complaint filed on June 5 in federal court in Washington, DC.

The DOJ claims that North Korean IT workers, under false identities, earned the crypto while working remotely for blockchain firms. The funds were originally frozen in April 2023 after Sim Hyon Sop, a China-based banker, was indicted for allegedly helping facilitate the money laundering scheme.