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Crypto crash threatens N. Korea's stolen funds as it ramps up weapons tests

Sudden plunge in crypto, which started in May amid a broader economic slowdown, complicates Pyongyang's ability to cash in on that and other heists, and may affect how it plans to fund its weapon prog

Photo: Bloomberg
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Photo: Bloomberg

Reuters Seoul
The nosedive in cryptocurrency markets has wiped out millions of dollars in funds stolen by North Korean hackers, four digital investigators say, threatening a key source of funding for the sanctions-stricken country and its weapons programmes.
 
North Korea has poured resources into stealing cryptocurrencies in recent years, making it a potent hacking threat and leading to one of the largest cryptocurrency heists on record in March, in which almost $615 million was stolen, according to the U.S. Treasury.
 
The sudden plunge in crypto values, which started in May amid a broader economic slowdown, complicates Pyongyang's ability to cash in on

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Jun 29 2022 | 8:11 PM IST

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