In brief
- North Korea stole at least $2.8 billion in crypto between January 2024 and September 2025 and increasingly launders it through established criminal networks, a paper from British think tank RUSI says.
- Third parties sometimes buy the stolen coins outright at a discount, or the funds turn up mixed with proceeds from investment scams.
- Cashing out relies on money mules recruited in the Philippines, Indonesia and China, whose credentials sell cheaply enough to buy at scale.
North Korea is increasingly pushing stolen cryptocurrency through the same money-laundering networks used by scam syndicates and organised crime, blurring the trail investigators follow, according to a research paper published this month by the Royal United…
