Research on North Korea’s changing methods of cryptocurrency theft and money laundering

Key Points

• Cyber attacks have shifted focus from information theft to acquiring foreign currency through cryptocurrency theft, reflecting international sanctions.
• In 2015, North Korea stole approximately $7 million from Vietnam's Tien Phong Bank, which marked the beginning of a trend towards larger thefts.
• The 2016 hack of Bangladesh's central bank resulted in a theft of $951 million, highlighting the scale of cyber crimes related to virtual assets.
• International concerns arise over the potential use of stolen cryptocurrency for nuclear and weapons development, indicating heightened security implications.

Abstract