Combating North Korea’s Crypto Crimes: A Collaborative Approach
2024-09-13 • Crypto ISAC •
https://www.cryptoisac.org/news-member-content/combating-north-koreas-crypto-crimes
DPRK cryptocurrency theft is described as a major threat to blockchain adoption because stolen and laundered virtual assets help the regime evade sanctions and fund its weapons programs. The excerpt cites a March 2024 UN DPRK Sanctions Committee Panel of Experts report estimating that DPRK cyber actors stole about $3 billion in virtual assets between 2017 and 2023. A recent U.S.-ROK symposium focused on protecting the virtual asset industry from DPRK exploitation, with government, industry, and cybersecurity participants emphasizing regulation, due diligence, and information sharing. Crypto ISAC is presented as a collaboration hub for the digital asset and blockchain communities to exchange threat intelligence and develop best practices against state-sponsored threats including North Korea.