North Korea uses Bitcoin to bypass the economic sanctions against the country. This emerges from the paper of a committee of experts of the Security Council. The paper confirms already existing assumptions.
The crypto narrative of limitless money benefits not only the oppressed, but sometimes the oppressors as well. Thus, a report can be interpreted, after the North Korea has used crypto currencies systematically to avoid sanctions from abroad. This is announced by a committee of experts from the UN Security Council, confirming the assumption of two analysts from the USA.
The government in Pyongyang is systematically relying on cyber-attacks against Bitcoin exchanges: foreign exchange and crypto-assets totaling about 670 million US dollars are said to have already captured North Korean hackers.
As the news page Nikkei reports, the authors of the paper urge the UN member states – which include North Korea, incidentally – to implement measures against cyberattacks. The states should “implement a solid exchange of…