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North Korea arrests ex-cyber operators accused of crypto laundering
The suspects are accused of hacking two state banks and converting stolen funds into cryptocurrency before laundering them through China-based brokers, according to Daily NK.
North Korea has reportedly arrested former state cyber operators and IT specialists accused of hacking two state banks and laundering stolen funds through cryptocurrency, according to a report from South Korea’s Daily NK.
The outlet, citing an anonymous source in Pyongyang, said the group allegedly targeted the internal networks of the North Korea central bank and the Foreign Trade Bank, then converted the stolen state funds into crypto.
Daily NK reported that the suspects would have laundered the cryptocurrency through China-based brokers, a process that, if confirmed, would be tied to the regime’s wider use of state-backed hacking operations.
The report also notes that accusations involving North Korean cyber activity are difficult to verify independently due to the country’s restrictions on access to information.