North Korea's Crypto Laundering Pipeline Exposed

North Korean cybercriminals have developed a complex system to launder stolen cryptocurrency by leveraging organized crime networks and money mules, according to a report from the Royal United Services Institute (RUSI).

The pipeline involves moving funds through multiple blockchains and wallets before being handed off to third-party laundering groups, including Chinese crime syndicates.

RUSI notes that these facilitators use various tactics such as money mules, peer-to-peer transactions, illicit online marketplaces, and over-the-counter (OTC) trades to convert the stolen cryptocurrency into fiat currency.