TRM_NorthKorea_Report.pdf (287 KB)

TRM assesses that North Korean cryptocurrency theft remains a major threat after DPRK-linked hackers stole more than USD 700 million in crypto the previous year. The excerpt highlights expected 2024 laundering trends: faster automation, diversified bridge use, smaller individual bridging transactions, and accelerated movement as monitoring improves. North Korean operators are described as typically converting stolen funds to USDT, transferring them to the Tron blockchain, and off-ramping through high-volume brokers and informal financial channels. The finding matters because these changes are intended to evade transaction monitoring and sustain Pyongyang's cryptocurrency revenue operations.