U.S. orders Chinese-backed crypto miner to sell land near nuclear missile base
NBCMay 29
Report: North Korea Laundered $147.5M in Stolen Crypto
story
Image copyright: Chesnot/Contributor/Getty Images News via Getty Images
The Facts
North Korea reportedly laundered $147.5M using the virtual currency exchange service Tornado Cash in March, according to a confidential report by UN sanctions monitors that was reviewed by Reuters on Tuesday.
The monitors told the UN Security Council's Sanctions Committee on Friday that the digital assets were previously stolen in a large-scale heist from the cryptocurrency platform HTX in late 2023.
The Spin
Pro-establishment narrative
North Korea's regime discovered illicit crypto activities as a means to finance its nuclear ambitions and circumvent UN sanctions. The money laundering techniques and sophistication with which Pyongyang seeks to evade detection have increased. However, the US is hitting back by sanctioning crypto-mixers used for their clandestine operations. If crypto companies are now also taking cybersecurity and risk management more seriously, Pyongyang will have a serious problem.
Establishment-critical narrative
The US government and its oligarchs have been warning about state-sponsored financial cyberattacks for years, but their goal isn't to protect our wallets. With countries like North Korea as the scapegoat, Western banks, corporations, and think tanks will work to convince the public that they need a centralized digital currency system to "protect" them. In reality, the ruling class simply wants more control over our money to enrich themselves.
