It shows a broader pattern in recent years of North Korean workers using virtual private networks (VPNs) and other tools to illegally gain remote employment.
On Monday, a Washington, D.C., district court unsealed two federal indictments charging a North Korean bank official for his alleged role in cryptocurrency laundering conspiracies.
The first indictment charges Sim Hyon Sop , a representative of North Korean Foreign Trade Bank , with allegedly laundering funds "stolen from virtual asset service providers," transferring the funds into U.S. dollars and using them to purchase goods, together with a group of over-the-counter crypto traders, according to the court filing. The alleged actions are in violation of current sanctions against North Korea by both the U.S. and United Nations.
Sim, as part of the second indictment, was charged with conspiring with a group of North Korean IT workers to launder about $12 million in illegally-earned wages from IT development work in the U.S. The workers allegedly assumed fake identities to gain employment at blockchain development firms based in the U.S. and abroad between 2021 and March 2023.
Singapore Latest News, Singapore Headlines
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