2024.03.08
U.S. Court Orders Forfeiture of North Korean Virtual Currency Account
In a Washington, D.C. federal court, Judge Timothy Kelly granted forfeiture of a North Korean virtual currency account, reducing the total from 146 to 145. The account was part of a civil forfeiture action filed in March 2020, linked to alleged laundering of illicit North Korean hacker proceeds. Despite efforts to locate owners, none claimed the accounts. Judge Kelly's decision, based on prosecution allegations and lack of response from the account holders, led to a summary judgment in favor of the U.S. government. Consequently, the accounts, involved in money laundering offenses, are now under U.S. government control, returning proceeds from North Korean hackers to the treasury.
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