USA v. 113 VIRTUAL CURRENCY ACCOUNTS
Contents
Case 1:20-cv-00606-TJK Document 42 Filed 03/05/24 Page 1 of 18
UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF COLUMBIA
UNITED STATES OF AMERICA,
Plaintiff,
v.
Civil Action No. 20-606 (TJK)
113 VIRTUAL CURRENCY ACCOUNTS et
al.,
Defendants.
MEMORANDUM OPINION
The United States seeks the forfeiture of 145 virtual currency accounts containing funds
linked to alleged hacks of virtual currency exchanges by North Korean operatives. It alleges that,
following those hacks, these accounts were each involved in a conspiracy to engage in three types
of money laundering—concealment, promotion or international promotion money laundering—or
are otherwise traceable to such property. For the reasons explained below, the Court will grant the
United States’ motion for default judgment and order forfeiture of these virtual currency accounts,
referred to as the Defendant Properties. 1
Background
A.
Virtual Currency
Bitcoin, Ether, and other so-called “cryptocurrencies” are types of virtual currency used in
online transactions. ECF No. 24 (“Sec. Am. Compl.”) ¶ 7. To send and receive funds, customers
use unique addresses that function like email addresses: one user may …
UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF COLUMBIA
UNITED STATES OF AMERICA,
Plaintiff,
v.
Civil Action No. 20-606 (TJK)
113 VIRTUAL CURRENCY ACCOUNTS et
al.,
Defendants.
MEMORANDUM OPINION
The United States seeks the forfeiture of 145 virtual currency accounts containing funds
linked to alleged hacks of virtual currency exchanges by North Korean operatives. It alleges that,
following those hacks, these accounts were each involved in a conspiracy to engage in three types
of money laundering—concealment, promotion or international promotion money laundering—or
are otherwise traceable to such property. For the reasons explained below, the Court will grant the
United States’ motion for default judgment and order forfeiture of these virtual currency accounts,
referred to as the Defendant Properties. 1
Background
A.
Virtual Currency
Bitcoin, Ether, and other so-called “cryptocurrencies” are types of virtual currency used in
online transactions. ECF No. 24 (“Sec. Am. Compl.”) ¶ 7. To send and receive funds, customers
use unique addresses that function like email addresses: one user may …