According to a report by Decrypt on June 8, Deep Tide TechFlow news states that the U.S. Department of Justice submitted a civil forfeiture request last week, seizing $7.74 million worth of Crypto Assets that were obtained by North Korean IT workers impersonating identities to secure jobs at U.S. companies.

These North Korean IT workers are employed by American crypto companies using identities obtained through false or fraudulent means, and their income is primarily paid in the form of stablecoins (USDC or Tether). They subsequently launder money through various methods, including setting up exchange accounts using fictitious IDs, making multiple small transfers, converting between different tokens, purchasing NFTs, and mixing coins, ultimately transferring the funds to the North Korean government.