According to a quarterly report by the United Nations Security Council's North Korea Sanctions Committee, North Korea has used a Hong Kong-based block-chain company to launder money.

As reported by the South Korean newspaper Chosun, North Korea has used a transport and logistics company called Marine China, which operates on a blockchain platform, to avoid international sanctions by laundering stolen cryptocurrency. .

According to the report, a certain Julian Kim, under the pseudonym Tony Walker, was the sole owner and investor of the company and had been trying to withdraw money from banks in Singapore on several occasions. According to Chosun, the UN claims that the money laundering plan, which also involved another undisclosed individual linked to the company, had passed crypto theft to more than 5,000 transactions in several countries in order to prevent theft. hide the source.

The report also states that North Korea has developed precision spear-phishing attacks. In the past three years, a previous UN report said 17 cyber-hacking experts had targeted 17 countries, resulting in losses of more than $ 2 billion, a figure denied by the regime.

Chosun adds that the report also notes the development of malicious codes used to transfer stolen bitcoins to a server located at Kim Il-sung University in Pyongyang.

The severe sanctions imposed on North Korea by the UN and other international bodies have pushed the country's regime towards cryptocurrencies over time. In September, Vice announced that the country was developing its own cryptocurrency with properties similar to bitcoin to circumvent international sanctions.

Image of North Korea via Shutterstock

Join the Binance global trading platform

Leave a Reply

Your email address will not be published. Required fields are marked *