FBI and DOJ Seize $500,000 Worth of Crypto from North Korean Hackers

FBI and DOJ Seize $500,000 Worth of Crypto from North Korean Hackers

20.07.2022 09:32
by Gabriel Cross
1 min read

The USA Federal Bureau of Investigation (FBI) and the Department of Justice (DOJ) recovered $500,000 worth of crypto that a North Korean hacking group had illegally obtained.

According to a DOJ representative, the hackers were backed by the North Korean government. They successfully hit several establishments, including two hospitals. The hackers demanded ransom money and threatened to bring down the hospitals’ servers if their demands were not met.

FBI and DOJ agents analyzed the blockchain data in order to trace the money. They discovered that the hackers were using money launderers in China to convert cryptocurrency into cash. The agents have since seized the stolen funds and are in the process of returning them to ransom victims.

According to a Chainalysis report, government-sponsored North Korean attackers stole some $400 million worth of BTC and ETH over the past year.

Author

  • Gabriel Cross used to be a bank officer for an international bank for many years. From this point of view, he says the time spent obtaining a degree in economics was a waste of time. A few years back, he decided to quit his job and start trading. He is obsessed with decentralized finance, but he often plays with the stock market, investing with great pleasure into ground-breaking tech solution startups.

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