On 10 September, MIT Technology Review carried an article saying that there is a big difference between hacking a cryptocurrency exchange and actually getting your hands on all the cash. However, for the North korean hacking operation, an IRS agent is quoted as saying that the laundering is more sophisticated than the hacks themselves. The article looks at the methods used, such as “peel chain” and “chain hopping”, which involve creating and maintaining hundreds of false accounts and identities, a consistent level of sophistication and effort that underlines just how important the operation is for Pyongyang – with criminal activity responsible for up to 15% of its income, and with a significant portion of that driven by cyberattacks.
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