Crypto▼ Bearish
North Korea Arrests Its Own Hackers for State Fund Theft
Pyongyang arrested elite hackers who stole from the regime's own banks and laundered via crypto, per Daily NK citing an internal source.
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North Korean authorities arrested a group of elite state-trained hackers accused of stealing and laundering the regime's own funds through cryptocurrency, according to a report from Daily NK.
Citing an anonymous source inside Pyongyang, the report said the hackers infiltrated the internal networks of the Chosun Central Bank and the Foreign Trade Bank. The group was rounded up on July 12 after an internal investigation traced suspicious crypto transactions to a safe house in the capital.
The ring was led by former members of a cyber warfare unit under the Reconnaissance and Intelligence General Bureau, Daily NK said. The group recruited talented graduates from Kim Chaek University of Technology and Pyongyang University of Science. They used military-grade hacking skills, encrypted communications, and Chinese wireless equipment to carry out the theft.