The North Korean leader has found a way to avoid international sanctions from the United Nations and the United States. with cryptocurrencies. However, reports have been released linking hacker groups, generally dedicated to crypto theft, to the North Korean government.
It is estimated that the North Korean regime kneaded at least $ 670 million in cryptocurrencies using hacking to get them.. The “Lazarus” group of hackers has been associated with North Korea and only this group has confirmed at least $ 571 million of the $ 670 million estimated to have been obtained illegally.
Like any authoritarian regime, these associations were denied by the leader of the revolution in North Korea. This fortune, which the North Korean leader has accumulated, was estimated to be used to circumvent the various sanctions. this burdens the regime, which results from the refusal to abandon the nuclear project to create weapons of mass destruction.
Uncertainty about the health of the leader of the Kim dynasty has been raised in recent weeks. Until now The illegal purchase of cryptocurrencies has allowed the leader to continue funding his weapons plans.
The government already expressed its interest in creating its own digital currency in 2019, as it has the staff and tools to do it, the press said. However, experts point out that this is another way of avoiding sanctions and washing capital.
The truth is that the feature of blockchain technology was able to track down the traces of thefts that these groups of cyber pirates associate with the government.
What if Kim Jong-un dies?
This is an interesting and recurring question among great experts. Some of them suggest that Sister Kim Yo-jong will lead the regime. Which then creates global expectation.
This implies another doubt Who has access to those millions of dollars in cryptocurrencies? It’s hard to believe that a single person can access so much money on different servers. On social networks like Twitter, some have expressed that the funds are being sold and that this would affect the current price of Bitcoin and other cryptocurrencies.
Corrupt politicians often use illegally raised funds, mutual funds, buying digital assets and even buying valuable materialsIt’s hard to believe that after a performance so big that so many people get cheated, the funds are still in virtual wallets connected to the North Korean leader.
Internet traffic in North Korea related to cryptocurrencies has increased in recent years. This can lead to a more credible explanation. Exchanging funds received illegally can actually be one of the causes. USA has added Tian Yinyin and Li Jianhong to its list of people and sanctioned for laundering crypto assets stolen from a South Korean exchange. Money laundering methods include changing the KYC (Know Your Client) rules, which manipulated the photos needed by the exchanges to mobilize the money associated with the North Korean government since the wallets were made earlier. The transactions were made in this Nation generated and therefore it is believed that they are connected to the revolutionary regime.
It is therefore unlikely that a man with several billion dollars in cryptocurrencies will have complete central control. And judging by the progress of the war that the North Korean government still has, it is concluded that the fraudulently received money has been largely invested.
There are believers that Kim Jong-Un is dead, and those millions of dollars are still in cryptocurrencies that will return to the crypto market.However, this has no data to support this theory and there are currently no indices on the market that could support this theory.