Home Latest 11 years in prison for laundering funds for the DPRK

11 years in prison for laundering funds for the DPRK


11 years in prison for laundering funds for the DPRK. A United States citizen of Canadian origin, Ghaleb Alaumary, was found guilty of helping the North Korean military launder funds received as a result of hacking cryptocurrency exchanges. The Ministry of Justice reported.

According to the investigation, Alaumary had a connection with three officers of the North Korean military intelligence. They assisted in the development of the WannaCry ransomware virus in early 2020. As well as embezzlement of funds worth more than $ 1.3 billion.

Moreover, the charges against them include a cyberattack on Sony Pictures Entertainment. In addition, attempts to hack banking networks in Vietnam, Bangladesh, Malaysia and Africa.

Conspiracy to launder money for North Koreans

Ghaleb Alaumary pleaded guilty in 2020 to conspiracy to launder money for North Koreans. He said that he was responsible for cashing out funds through fake bank accounts and cryptocurrency.

The defendant also confessed to phishing emails. Thus, one of the victims of this scheme was a university in Canada. University transferred $9.4 million to fraudsters, believing that it was communicating with a large construction company.

“The accused was an integral channel of a cybercrime network that stole tens of millions of dollars from many organizations and institutions around the world,” the prosecution said.

A US federal court sentenced Alaumary to 11 years in prison and a fine of $30 million.

North Korea’s Cyberattacks

Recall that back in 2019, the UN said that North Korea attacked large crypto exchanges in order to receive foreign currency and thus mitigate the consequences of international sanctions. Analysts claimed that with the help of these attacks, the DPRK stole about $2 billion. North Korea denied the accusations.

In 2020, experts said that the DPRK uses a cryptocurrency worth $ 1.5 billion to finance international trade and supply chains, bypassing sanctions.

According to the US Army, there are more than 6,000 hackers working under the leadership of North Korea around the world.

Previous articleThe creator of a fraudulent scheme for $30 million pleaded guilty
Next articleArk Invest fund to allow participation in Canadian ETF