North Korean agents exploited remote blockchain jobs to steal nearly $1 million in crypto by using fake and stolen identities to secure positions at firms in Georgia and Serbia between 2020 and 2021.
The group then allegedly exploited system access to drain approximately $915,000 worth of digital assets, laundering the proceeds through crypto mixers and exchange accounts created with fraudulent documents.
Operating initially from the UAE, the accused used their positions to alter code and reroute funds, reflecting a growing trend in North Korea's digital espionage and revenue generation.
The broader initiative targeting these schemes, known as DPRK RevGen, has resulted in coordinated raids on assets like 'laptop farms' to mimic U.S.-based activity, with officials warning of the support these operations provide to North Korea's weapons development programs.