UN Accuses North Korea Of Laundering Money Via Hong Kong-based Blockchain Company
The sanctions committee of the United Nations has recently accused North Korea of using a blockchain firm in order to launder money overseas. According to the committee, an investigation was conducted and it was discovered that the country was using cryptos to evade sanctions imposed on it by the international community.
Marine China, a blockchain company focused on the logistics field, is now accused of being used by these North Korean actors. The company belongs to a man named Julian Kim, who uses the alias of Tony Walker.
It is believed that both Kim and another unnamed executive connected to the firm were linked to the money laundering activities. They were reported to have withdrawn money several times from the country, which would be routed to North Korea.
The operation pointed out that the crypto that was laundered was stolen by North Korea last year was converted into fiat using at least 5,000 small transactions, which were made across several countries. The plan was that several small transactions would be considerably harder to track.
Also, people from the intelligence services of the country were accused by the investigators of “grooming” cyber agents to offer them careers as hackers who could steal cryptocurrencies for the government.
The attacks that were allegedly made by the North Korean government hit seventeen countries last year and around $2 billion USD worth of cryptocurrencies was stolen. The government of North Korea denies all attacks.