NORTH KOREAN CRYPTOCURRENCY OPERATIONS: AN ALTERNATIVE REVENUE STREAM

On 24 May, the Belfer Center published a Policy Brief saying that, with a cyber arsenal capable of reaching cryptocurrency platforms and users, North Korea has increasingly targeted virtual assets as a source of revenue for its regime.   The UN Panel of Experts has estimated that North Korea stole approximately $316.4 million in virtual assets between January 2019 and November 2020.  The focuses on 3 ways North Korea obtains cryptocurrencies, specifically cryptomining, cryptojacking, and fraudulent initial coin offerings (ICO).  It warns that North Korea’s cryptocurrency operations offer an attractive and transferable model for other financially-isolated states and non-state actors.

https://www.belfercenter.org/sites/default/files/files/publication/North%20Korean%20Cryptocurrency%20Operations%20-%20An%20Alternative%20Revenue%20Stream.pdf

Any modest contributions for my time and ongoing expenses are welcomed!  I have a page where you can do so, and where one-off contributions start as low as $3, at

https://www.buymeacoffee.com/KoIvM842y

NOTE THAT THE ABOVE LINK IS NOW CORRECTED AND WORKS!

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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