15 October 2026
US Accuses Chinese Citizens Of Helping North Korea In Laundering Cryptocurrency
The US Department of Justice stated that hackers of North Korea managed to steal $250 million worth of cryptocurrency from an exchange. The scam includes two Chinese citizens helping them to launder $100 million of it through using iTunes gift cards and other methods. The US Treasury Department has revealed that Lazarus Group which is a criminal group from North Korea is behind this scam. The group is famous for all its illegal work such as stealing cryptocurrencies and many other cyberattacks.
According to Prosecutors, these hackers stole the cryptos back in 2018 when an employee of a cryptocurrency exchange unintentionally downloaded North Korean malware. The hacker got access to virtual currency, private keys, and other customer information. He was also able to escape law enforcement and safeguards by using fake ids.
The US Treasury Department stated, the North Korean government “trains cyber actors to target and launder stolen funds. Between the phase of December 2017 and April 2019, accused Tian Yinyin and Li Jiadong, the Chinese residents laundered $100 million of funds traceable back to the 2018 hack. The Treasury Department said that Tian converted about $1.4 million of bitcoin into prepaid Apple iTunes gift cards.
A statement given by US Attorney Timothy J. Shea of the District of Columbia, reads, “The hacking of virtual currency exchanges and related money laundering for the benefit of North Korean actors poses a grave threat to the security and integrity of the global financial system.”
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