The U.S. Department of Justice is seeking a $7.7 million forfeiture in cryptocurrency from North Korean hackers who posed as IT workers to gain employment with companies in the U.S. and abroad. The funds were seized as part of an operation against a North Korean scheme to evade sanctions. The hackers laundered their income through a North Korean representative, Sim Hyon Sop, to benefit the regime in Pyongyang. They used various methods to hide their identities and locations, including setting up exchange accounts with fake IDs and buying NFTs. The FBI is investigating the case, revealing a growing threat of North Korean IT workers defrauding U.S. businesses. Experts warn that the threat is becoming more sophisticated, with North Korea potentially generating hundreds of millions in revenue annually from fraudulent IT work. Despite efforts to combat these activities, the increasing sophistication of North Korean operations poses challenges for authorities worldwide. Read more AI-generated news on: https://app.chaingpt.org/news

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