ATLANTA — A federal grand jury in Georgia has indicted four North Korean nationals for their alleged roles in a scheme to steal and launder more than $900,000 in cryptocurrency from companies in the U.S. and abroad, including one based in Atlanta.
Kim Kwang Jin, Kang Tae Bok, Jong Pong Ju, and Chang Nam Il face five federal charges, including wire fraud conspiracy, wire fraud, and money laundering conspiracy. The indictment was returned June 24 in the Northern District of Georgia.
According to the U.S. Attorney’s Office, the defendants used stolen identities to secure remote IT developer positions. Two of them allegedly worked for an Atlanta-based blockchain research company and used their access to steal digital currency.
The Georgia indictment is part of a broader nationwide Justice Department effort that also resulted in the seizure of financial accounts, websites and laptops allegedly used in North Korean fraud schemes.
Prosecutors said Kim and Jong posed as foreign job applicants, used fake documents, and were hired by companies in Atlanta and Serbia in 2020 and 2021. They then recommended their co-conspirators for similar roles.
Authorities said North Korea has dispatched thousands of IT workers with stolen or fake U.S. identities to infiltrate American companies, including Fortune 500 firms, to fund its weapons program. Officials warn these workers have, in other cases, gained access to sensitive or proprietary data.
In early 2022, investigators said Jong used his access to take about $175,000 in virtual currency from his employer. The following month, Kim allegedly altered smart contract code and stole roughly $740,000.
“North Korean operatives used false identities to infiltrate companies and steal digital assets to fund their regime,” said Paul Brown, Special Agent in Charge of FBI Atlanta. “The FBI is committed to exposing these threats and protecting U.S. businesses from nation-state cybercrime.”
Officials said the defendants laundered the stolen funds by first using a virtual currency mixer to hide the money trail. They then transferred the cryptocurrency into exchange accounts controlled by Kang and Chang. Investigators say those accounts were opened with fake Malaysian identification documents and aliases.
This indictment in Georgia is part of a broader national effort. In a separate case in Massachusetts, prosecutors charged one U.S. citizen and more than six Chinese and Taiwanese nationals in a scheme that allegedly generated at least $5 million in fraudulent wages and affected over 100 companies.
Meanwhile, the four North Korean nationals charged in Georgia remain at large. Federal arrest warrants were issued the same day as the indictment, and the FBI considers all four to be fugitives.
The FBI said the group worked and traveled together and has ties to the United Arab Emirates and Laos. They are known to speak English and Korean.
The U.S. Department of State is offering a reward of up to $5 million for information that helps disrupt North Korea’s financial networks, including schemes like worker exportation, cyber theft and money laundering.
If you have information about these men, contact the FBI at 1-800-CALL-FBI (1-800-225-5324) or submit a tip online at tips.fbi.gov.
