Reuters reports that UN sanctions monitors have stated in a confidential report that North Korea laundered $147.5 million through the Tornado Cash platform after stealing it from a cryptocurrency exchange in March this year. According to Reuters, these UN monitors informed the Security Council on Friday that they are investigating 97 North Korean suspects who may have been involved in cyberattacks on cryptocurrency companies between 2017 and 2024, which have collectively resulted in the theft of $3.6 billion. These attacks include a cyberattack late last year that resulted in the theft of $147.5 million from the HTX cryptocurrency exchange, which was ultimately laundered in March this year. UN experts have stated, based on reports from UN member states and private companies, that North Korean IT workers operating abroad generate 'significant income' for Pyongyang. North Korea, officially known as the Democratic People's Republic of Korea, has been under UN sanctions since 2006, with these sanctions being intensified over the years to reduce funding for the country's missile and nuclear programs.
Reuters: North Korea Laundered $147.5 Million in Cryptocurrency
North Korea laundered $147.5 million in cryptocurrency stolen from an exchange, according to a UN report. The investigation into 97 suspects is part of ongoing efforts to combat cybercrime linked to North Korea. This situation highlights the regime's reliance on illicit activities to fund its programs amid international sanctions.
👥 Key Players
📰 What Happened
North Korea laundered $147.5 million in cryptocurrency through Tornado Cash after stealing it from an exchange. UN monitors are investigating 97 suspects linked to North Korean cyberattacks.
- North Korea stole $147.5 million from HTX exchange.
- UN monitors are investigating cyberattacks resulting in $3.6 billion in theft since 2017.
💡 Why It Matters
📚 Background
North Korea has been under UN sanctions since 2006, aimed at curbing its nuclear and missile programs. The country has increasingly turned to cybercrime as a source of revenue.
🏷️ Entities Mentioned
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