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National Security Anti-Money Laundering North Korea

Faegre Drinker Biddle & Reath LLP

The Wallet Inspectors: The DPRK’s Sophisticated Campaign to Steal Cryptocurrency and How to Protect Yourself

On February 21, 2025, Bybit, one of the world’s largest cryptocurrency exchanges, suffered a cyberattack resulting in the theft of approximately $1.5 billion in Ethereum tokens.  This attack marked a new pinnacle in the...more

Ballard Spahr LLP

28 North Korean and 5 Chinese Bankers Accused of a $2.5 Billion Laundering Scheme

Ballard Spahr LLP on

Indictment Again Highlights the Role of Correspondent Banking in Money Laundering - On May 28, 2020, the U.S. Department of Justice (“DOJ”) unsealed a 50-page indictment against 28 North Korean and 5 Chinese bankers...more

King & Spalding

Virtual Currency as a Threat to National Security?

King & Spalding on

In the past, sanctioned jurisdictions like Venezuela have embraced virtual currency as a way to bypass channels that involve U.S. dollars, blunting the impact of U.S. economic sanctions policies aimed at isolating those...more

K&L Gates LLP

D.C. Circuit Upholds Foreign Banks’ Contempt for Noncompliance with U.S. Subpoenas in North Korea Sanctions Investigation

K&L Gates LLP on

On August 6, the D.C. Circuit Court of Appeals unsealed its partly redacted decision upholding a civil contempt order against three foreign banks that refused to comply with a subpoena from U.S. authorities to produce bank...more

Ballard Spahr LLP

D.C. Circuit Rules in Favor of Broad Reach of Patriot Act Subpoenas

Ballard Spahr LLP on

On August 6, the U.S. Court of Appeals for the District of Columbia kept in place $50,000-per-day fines on three Chinese banks—whose identities are redacted—for refusing to comply with subpoenas issued by the Department of...more

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