Security News > 2020 > March > U.S. Charges Two Chinese Nationals Linked to North Korean Hacker Attacks
The U.S. Department of Justice announced on Monday that two Chinese nationals have been charged with laundering over $100 million worth of cryptocurrency stolen by North Korean hackers from a cryptocurrency exchange.
According to authorities, Yinyin and Jiadong laundered over $100 million worth of cryptocurrency, mostly obtained as a result of a cyberattack launched in April 2018 by North Korean hackers.
Laundering the stolen funds involved hundreds of automated transactions, accounts created on cryptocurrency exchange platforms using forged identification documents, and bank accounts at several Chinese banks.
Yinyin and Jiadong allegedly provided cryptocurrency transmission services, an operation that included customers and financial accounts in the U.S. North Korean threat actors, including the infamous Lazarus group, have targeted many cryptocurrency exchanges and financial institutions in the past years, and it has been estimated that these attacks may have helped them earn as much as $2 billion.
Some believe North Korean hackers were also behind the January 2018 hack of Japanese cryptocurrency exchange Coincheck, from which over $500 million was stolen.
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