Unexpected Bitcoin Whale: North Korea May Own Millions In Crypto

In a recent U.N. Security Council meeting, a panel of industry experts claimed that North Korea could have upwards of $670 million worth of currencies that isn’t the nation owns. This stockpile purportedly includes cryptocurrencies, presumably like Bitcoin and Ethereum. According to the Nikkei Asian Review, which broke this news, the Security Council’s North Korean sanctions team were informed that digital assets “provide the Democratic People’s Republic of Korea with more ways to evade sanctions, given that they are harder to trace,” and are relatively easy to launder across borders and through individuals deemed suspicious.

On the matter of how North Korea managed to garner the funds, the unnamed researchers claim that hackers associated with the nation broke into a number of crypto exchanges over yesteryear, securing millions in the process.

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