North Korea’s nuclear program is funded by stolen cryptocurrency. Could it collapse now that FTX has?
theconversation.comSince the world’s second-largest crypto exchange, FTX, declared bankruptcy earlier this month, the flow-on effects have been felt far and wide.
But among the many victims are also some not-so-innocent parties. For the Democratic People’s Republic of Korea, a country facing heavy sanctions, cryptocurrency theft has been a (relatively) simple way to fund the country’s expanding nuclear arsenal.
It’s well documented that Kim Jong-un’s military operation hackers have been stealing cryptocurrency to support North Korea’s nuclear and missile program for several years.
But with the general downturn in the crypto market, coupled with the recent FTX collapse and myriad other pitfalls, analysts estimate North Korea has probably lost most of its crypto haul.
