North Korea Cracks Down on Crypto-Funded Heist

North Korean authorities have arrested former military hackers accused of stealing state funds from two banks and laundering them through cryptocurrency.

The group allegedly breached the internal systems of the Central Bank of the DPRK and Foreign Trade Bank, diverting foreign currency and state trade funds into overseas crypto wallets.

Chinese brokers then converted the assets into U.S. dollars and yuan, with contacts in border cities exchanging the crypto for cash in real time to avoid detection.