North Korea Detains Hackers Over Crypto Money Laundering Allegations

In North Korea, it has been alleged that a state-sponsored hacker group stole and laundered regime funds through cryptocurrency assets. This group infiltrated the internal networks of the North Korean Central Bank and the Foreign Trade Bank. On July 12, following an internal investigation tracking suspicious cryptocurrency transfers, the group was collectively detained. Authorities traced the transactions to a safe house in Pyongyang. It was reported that the group consisted of former members who had served in a cyber warfare unit under the General Bureau of Reconnaissance and Intelligence. Additionally, it was claimed that graduates from Kim Chaek University of Technology and Pyongyang University of Science were also part of the group. According to allegations, intermediaries in China converted the obtained cryptocurrency assets into cash, and this money was exchanged for fiat currencies in North Korea's border regions. North Korea has long been associated with state-sponsored cyber operations, and the United Nations, the United States, South Korea, and Japan have stated that cyber elements linked to Pyongyang have carried out billions of dollars in digital asset theft. U.S. officials accuse North Korean hackers of orchestrating significant cryptocurrency thefts recorded in attacks on Ronin Bridge, Harmony Horizon Bridge, and others.

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