North Korea evades UN sanctions using crypto for weapons, raw materials: report

North Korea is evading UN sanctions by using cryptocurrency to trade raw materials and military weaponry. According to a report by the Multilateral Sanctions Monitoring Team, Pyongyang has stolen at least $1.65 billion since January 2022, including $1.4 billion from the crypto exchange Bybit in February. The funds were used for the unlawful development of its WMD and ballistic missile programmes. North Korean officials used stablecoin for procurement-related transactions, including the sale and transfer of military equipment and raw materials such as copper. The report also found that Pyongyang generated an additional $1.2 billion in cryptocurrency gains in 2024. The sanctions evasion is attributed to North Korea's sophisticated cyber force and its use of IT workers abroad to launder funds.

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