North Korean State Hackers Caught Laundering Stolen Funds Through Cryptocurrency

North Korean authorities have arrested a group of former state cyber operators and IT specialists accused of hacking two state banks, converting stolen funds into cryptocurrency, and laundering them through China-based brokers.

A report by Daily NK claims that the group hacked the internal networks of North Korea's central bank and the Foreign Trade Bank, using their access to convert state funds into cryptocurrency before laundering them through Chinese brokers.

This alleged hacking ring is a rare case of North Korean cyber operators being accused of stealing from their own government's financial institutions.