Cryptocurrency Q&A
Could DPRK try to cash out bitcoin worth $40 million?
Could DPRK try to cash out bitcoin worth $40 million?
Chiara
Wed Jul 10 2024
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6 answers
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Could the Democratic People's Republic of Korea (DPRK) potentially attempt to liquidate a substantial amount of bitcoin, estimated to be worth $40 million? This query arises in the context of the DPRK's known interest in cryptocurrency as a potential means to evade international sanctions and sanctions-imposed financial restrictions. Given the country's resourcefulness in circumventing sanctions through illicit activities, it begs the question: Could the DPRK leverage its access to, or acquisition of, significant amounts of bitcoin and attempt to cash them out in order to fund its military programs, weapons development, or other state-sponsored endeavors? If so, how might such a move be detected, and what steps could international agencies take to prevent or mitigate such a significant cryptocurrency liquidation?
6 answers
ShadowFox
Fri Jul 12 2024
The FBI holds suspicions that the Democratic People's Republic of Korea (DPRK) might seek to liquidate over $40 million worth of bitcoin.
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Martino
Fri Jul 12 2024
This assumption stems from an investigation conducted by the agency, which uncovered a trail leading to TraderTraitor-affiliated actors.
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SolitudePulse
Fri Jul 12 2024
These actors have allegedly transferred approximately 1,580 bitcoin from various cryptocurrency heists.
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BonsaiGrace
Fri Jul 12 2024
The FBI has identified the bitcoin addresses where these illicit funds are currently being held.
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EnchantedDreams
Thu Jul 11 2024
The agency is closely monitoring these addresses to prevent any potential attempts to cash out the bitcoin.
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