• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Jobs
  • Career
    • Cyber Security Training
    • Work from Home
    • Cyber Security Analyst
    • Remote Work – Six Ways to Keep Your Data Safe When Working Remotely
  • Field Guide
  • Newsletter Signup
  • Deals
  • News
AskCyberSecurity.com

AskCyberSecurity.com

Cyber Security News & Information

  • Home
  • Data Privacy
    • Gamers
    • Government Cyber Security
      • Legislation
      • Standards
        • What are the risks of computer security?
        • Medical Cyber Security
    • Social Media
  • Security
    • Data Breaches
    • Scams
    • Malware
  • Software
    • Apps
    • Web Browsers
  • Glossary
    • Cyber Security Acronyms
  • About Ask Cyber Security
    • Authors
    • Contact Us
  • VPN
    • How Do I Know If My VPN is Working?
    • Best Free VPN iPhone
    • Why Use a VPN?
    • NordVPN vs IPVanish
    • Private Internet Access Download
    • Best VPN for Streaming
      • TikTok VPN
    • VPN Porn
    • Computer Security Software – What You Really Need
  • Tutorials
AskCyber Home » News » News » US DOJ Charges Two with Money Laundering for North Korea

US DOJ Charges Two with Money Laundering for North Korea

2020-03-03 by Michelle Dvorak

DOJ North Korea Money Laundering

US Department of Justice (DoJ) Charged Two Chinese Nationals with Money Laundering $100M for North Korea Hackers

US Department of Justice (DOJ) charged two Chinese nationals with money laundering for a North Korea hacking operations. The indictment names Tian Yinyin and Li Jiadong, who were both charged money laundering conspiracy and operating an unlicensed money transmitting business. The two were also and sanctioned by the US Treasury. The cybercrime is connected to Lazarus Group, a state Sponsored advanced persistent threat (APT) hacking group that works for the Democratic People’s Republic of Korea (DPRK). Lazarus Group is also know as APT38.

“These defendants allegedly laundered over a hundred million dollars’ worth of stolen cryptocurrency to obscure transactions for the benefit of actors based in North Korea,” said Assistant Attorney General Brian A. Benczkowski of the Justice Department’s Criminal Division.

In April 2018, an employee of an unmade cryptocurrency exchange downloaded malware delivered vis a phishing email. After infecting the target machine, the malware gave the North Korea hackers remote access to the cryptocurrency exchange and access to customers’ personal information and accounts. The North Koreans hacked into the virtual currency exchange and managed to steal about $250 million in cryptocurrencies.

Malicious cyber activity is a major revenue generator for North Korea. Secretary Steven T. Mnuchin from the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) aid “The North Korean regime has continued its widespread campaign of extensive cyberattacks on financial institutions to steal funds”

Tian and Li received approximately $91 million stolen in April 2018 from North Korea controlled crypto exchange accounts. Another $9.5 million was received from a separate crypto exchange hack. The stolen money was moved and laundered through a series of cryptocurrency accounts and gift cards to make it hard to trace. The DOJ complaint lists 113 virtual currency accounts and addresses that were used to launder virtual money.

As a result of the US treasury sanctions, all property and interests in property belonging to Tian Yinyin or Li Jiadong that are within the United States or in the possession or control of any US citizen must be blocked and reported to OFAC.

What is an APT Hacking Group?

An advanced persistent threat group, or APT group, is any professional hacking organization that work at the behest of a government. APT groups are highly skilled and tend to work with low and slow approaches. Meaning their hacking tactics, like malware and spyware, work to infect computers, phones, and IT networks quietly so they can infect as many systems as possible for long periods of time while evading detection. APT malware has been known to persist on networks for years before it is detected. Each APT group seems to focus on certain specialties – like corporate espionage, monetary theft, government secrets. They also may work in certain geographical areas – like Asia, Europe, North America. Their skills and activity are tracked by cyber security research groups where they are tacked by numbers, proficiency, and type of malware used. Advanced Persistent Threat Groups are often given names which relate to the country they work for. Lazarus Group is also known as APT38, Bluenoroff, and Andariel.

Filed Under: News Tagged With: North Korea

About Michelle Dvorak

Michelle writes about cyber security, data privacy focusing on social media privacy as well as how to protect your IoT devices. She has worked in internet technology for over 20 years and owns METRONY, LLC. Michelle earned a B.S. in Engineering from Rensselaer Polytechnic Institute. Michelle published a guide to Cyber Security for Business Travelers


LinkedInTwitterFacebook

Primary Sidebar

Subscribe to Our Free Newsletter

We Don't Share or Sell Your Info

Web Browsers

Where Are My Saved Passwords in Chrome?

Google Removes 70 Malicious Browser Add-ons from Chrome Web Store

Firefox 75 Reports Your Browser Settings to Mozilla

Categories

Cyber Security Field Guide

Computer Security While TravelingGet Our Cyber Security Field Guide - Available on Amazon!

Recent Posts

Security Marketing Manager – Remote

Sr. Associate, Cybersecurity Architect – Pfizer

Strategic Customer Success Manager – Cybersecurity – Opportunity for Working Remotely

Top 20 Passwords Leaked on Dark Web

ISU Cybersecurity Leader Job Opening

Cyber Security News

Top 20 Passwords Leaked on Dark Web

… [Read More...] about Top 20 Passwords Leaked on Dark Web

Apple Warns of Actively Exploited Zero-Day Flaw

… [Read More...] about Apple Warns of Actively Exploited Zero-Day Flaw

IRS Stops Facial Recognition System for Online Access

… [Read More...] about IRS Stops Facial Recognition System for Online Access

National Cybersecurity Alliance Announces Data Privacy Week

… [Read More...] about National Cybersecurity Alliance Announces Data Privacy Week

More Cyber Security News

Tags

amazon Android Apple bitcoin China chrome CISA credit card DarkSide DHS DOJ Equifax Europe Facebook facial recognition FBI Firefox FTC games GDPR Google Government hacker identity theft India iPhone Iran IRS LinkedIn Microsoft North Korea PayPal phishing phishing email ransomware REvil Russia smartphone T-Mobile TikTok tutorial VPN WhatsApp WiFi Windows

Government

CBP Looks to Access Airline Passenger Data

FTC Releases Cyber Threat Video Playlist

Malware Found on US Government Funded Phones

UK NCA Reaches Out to Youth to Deter Cybercrimes

More Posts from this Category

Footer

Menu

  • Home
  • About
  • Authors
  • Newsletter Signup
  • PRIVACY POLICY

Search

Why Use a VPN?

NordVPN vs IPVanish VPN Review

NAVIGATION

  • Data Breaches
  • Data Privacy
  • Gamers
  • Scams
  • Malware

MEMBER NJCCIC

New Jersey Cybersecurity & Communications Integration Cell

STAY CONNECTED

  • Facebook
  • Instagram
  • Pinterest
  • YouTube
  • Twitter
  • RSS

Copyright © 2023 · AskCyberSecurity.com · METRONY, LLC

Go to mobile version