Fun

DOJ Seizes $500K in Ransom Payments, Cryptocurrency From State-Sponsored North Korean Hackers

News Feed - 2022-07-21 12:07:30

DOJ Seizes $500K in Ransom Payments, Cryptocurrency From State-Sponsored North Korean Hackers


The U.S. Department of Justice (DOJ) has seized $500K in ransom payments and cryptocurrency from a state-sponsored North Korean group. “We are returning the stolen funds to the victims,” Deputy Attorney General Lisa O. Monaco said, adding that the seized funds include ransoms paid by health care providers in Kansas and Colorado. DOJ Seizes Crypto From North Korean State-Backed Group


The U.S. Department of Justice (DOJ) announced Tuesday that it has seized and forfeited approximately $500K from North Korean ransomware actors and their conspirators. The department added that it has filed a complaint “in the District of Kansas to forfeit cryptocurrency paid as ransom to North Korean hackers or otherwise used to launder such ransom payments.”


The DOJ stated: In May 2022, the FBI filed a sealed seizure warrant for the funds worth approximately half a million dollars. The seized funds include ransoms paid by health care providers in Kansas and Colorado.


Deputy Attorney General Lisa O. Monaco reiterated Tuesday at the International Conference on Cyber Security 2022, “We seized approximately half a million dollars in ransom payments and cryptocurrency used to launder those payments.” She added: “Thanks to rapid reporting and cooperation from a victim, the FBI and Justice Department prosecutors have disrupted the activities of a North Korean state-sponsored group deploying ransomware known as ‘Maui."”


Last year, the North Korean group encrypted a Kansas medical center’s servers used to “store critical data and operate key equipment,” Monaco detailed. The attackers demanded ransom, which the hospital paid.


The FBI and Justice Department prosecutors traced the ransom payment through the blockchain. “The FBI identified China-based money launderers — the type who regularly assist North Koreans in ‘cashing out’ ransom payments into fiat currency,” the deputy attorney general detailed. “Additional blockchain analysis revealed that these same accounts contained other ransom payments. The FBI traced those to another medical provider in Colorado and potential overseas victims.”


Monaco added: Today, we have made public the seizure of those ransom payments, and we are returning the stolen funds to the victims.


In October last year, Monaco announced the creation of a National Cryptocurrency Enforcement Team (NCET). The aim of the initiative is “to tackle complex investigations and prosecutions of criminal misuses of cryptocurrency, particularly crimes committed by virtual currency exchanges, mixing and tumbling services, and money laundering infrastructure actors,” the DOJ described. “The team will also assist in tracing and recovery of assets lost to fraud and extortion, including cryptocurrency payments to ransomware groups.” Tags in this story crypto ransom payments, cryptocurrency ransom payments, DOJ, FBI, fbi seizes crypto, kansas hospital, Lisa O. Monaco, north korea hackers, north korea ransomware, ransom payments, ransomware, seizes crypto, seizes cryptocurrency


What do you think about the DOJ seizing ransom payments and cryptocurrency from a North Korean state-sponsored group? Let us know in the comments section below. Kevin Helms


A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Nigeria Leads Africa in Regulating Digital Asset Space — Securities Regulator REGULATION | 21 hours ago Harvard Professor Rogoff: Central Banks, Governments Are "Way Behind the Curve" in Regulating Cryptocurrencies REGULATION | 1 day ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleGrayscale: Bitcoin Could See Another 5-6 Months of Downward or Sideways Price Movement Next articleRegister Here for a Weekly Update on African News Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItCentral Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year


The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.Following a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days UAE Airliner Emirates to Launch NFTs and Experiences in the Metaverse Survey: Adoption in Argentina Grows, With 12 out of 100 Adults Having Invested in Crypto Iran to Increase Penalties for Unauthorized Cryptocurrency Mining

News Feed

Ethereum Whales Offload 143,000 ETH In One Week – More Selling Ahead?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Tom Blackstone5 hours agoSquare Enix announces auction dates for Symbiogenesis NFTsThe company said Symbiogenesis NFTs will be auctioned off in three separate phases.1725 Total views14 Total sharesListen to article 0:00N
BlackRock’s Bitcoin ETF daily inflow on halt for 4 days
Helen Partz9 hours agoBlackRock’s Bitcoin ETF daily inflow on halt for 4 daysWhile some crypto observers are concerned about IBIT’s inflow halt, others say it’s more normal than the 71-day inflow streak it has reco
Ethereum ETFs are coming — Here’s what you need to know
Alex O’Donnell4 hours agoEthereum ETFs are coming — Here’s what you need to knowAre you ready for the July 23 launch of nine spot Ethereum ETFs? Here"s what you need to know to start trading.3567 Total views21 Tota
Brayden Lindrea7 hours agoCircle and SBI Holdings partner to boost USDC circulation in JapanThe agreement was made in a memorandum of understanding, but SBI Holdings must first register as an electronic payment instrumen
Dogecoin Price Completes First Bull Phase Similar To 2021, Here’s What Comes Next
Este artículo también está disponible en español. Crypto analyst KrissPaxhas revealed that the Dogecoin price has completed the first part of its bull phase, similar to w
Musk to Launch ‘Truthgpt,’ Says Microsoft-Backed Chatbot Is Trained to Lie
Musk to Launch ‘Truthgpt,’ Says Microsoft-Backed Chatbot Is Trained to Lie Tech investor Elon Musk intends to develop an artificial intelligence (AI) platform that will be “t
Miss El Salvador Features Bitcoin in Miss Universe 2023
Miss El Salvador Features Bitcoin in Miss Universe 2023 The Miss Universe contestant from El Salvador this year has surprised viewers by featuring bitcoin as part of her national c
Ethereum Reclaims Key Support At $1,574 – Here’s The Next Price Target
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Xapo Bank Integrates Lightning Network Payments Through Lightspark Partnership
Xapo Bank Integrates Lightning Network Payments Through Lightspark Partnership On March 2, Xapo Bank announced its partnership with Lightspark, a company led by David Marcus, forme
Web3 Firm Chain Reveals Multi-Year Partnership With the New England Patriots
Web3 Firm Chain Reveals Multi-Year Partnership With the New England Patriots The Web3 software solutions company Chain announced the company has partnered with Kraft Sports + Enter
Coinbase: Institutional Investors Increased Allocations During Crypto Winter, Long-Term Price Outlook Positive
Coinbase: Institutional Investors Increased Allocations During Crypto Winter, Long-Term Price Outlook Positive A recent survey sponsored by the Nasdaq-listed crypto exchange Coinba