U.S. DOJ Seeks Forfeiture of $15 Million USDT Stolen by North Korean Hackers

The U.S. Department of Justice has filed civil forfeiture complaints to seize $15.1 million in USDT traced to North Korean hackers, following 2023 cyberattacks on global cryptocurrency exchanges.

The seizures exemplify ongoing U.S. measures against state-sponsored cybercrime, impacting market trust in digital asset security and stressing international cooperation in combating illicit cryptocurrency activities.

DOJ Targets $15M in North Korean Crypto Assets

The DOJ’s filing marks a continued effort to counter North Korean cyber-funding operations. The Lazarus Group has been linked to significant cryptocurrency thefts globally. The forfeiture involves Tether USDT funds traced back to 2023 hacker attacks on exchanges.

This development impacts the liquidity of Tether and raises concerns over cybersecurity in global exchanges. Losses incurred by these hacks ranged between $37 million and $138 million across different platforms.

“These prosecutions make one point clear: the United States will not permit [North Korea] to bankroll its weapons programs by preying on American companies and workers. We will keep working with our partners across the Justice Department to uncover these schemes, recover stolen funds, and pursue every individual who enables North Korea’s operations.” – Justice Department Press Release

Tether’s Market Amidst Legal and Cybersecurity Landscape

Did you know? The Lazarus Group has been linked to over $600 million in crypto hacks, including the notable Ronin Bridge exploit.

According to CoinMarketCap, Tether USDt (USDT) maintains a steady value of $1.00, with a market cap of approximately 184 billion and a market dominance of 5.74%. Trading volume reached over 102 billion in the past 24 hours, indicating a minor decrease of 1.14%. The token’s 24-hour price improved by 2.14%, contrasting with a slight 60-day decline.

Analysis from Coincu suggests that this forfeiture could strengthen regulatory frameworks, encouraging enhanced cybersecurity measures across exchanges. This reflects broader trends of increasing scrutiny over state-sponsored cyber threats in the cryptocurrency sector.