North Korea has arrested a group of former state cyber operators and IT specialists accused of hacking two state banks and laundering stolen funds through cryptocurrency. According to South Korean outlet Daily NK, the hackers allegedly targeted the internal networks of North Korea’s central bank and the Foreign Trade Bank, converting stolen state funds into cryptocurrency before laundering them through China-based brokers. This would mark a rare case where North Korean cyber operators are accused of stealing from their own government’s financial institutions. Pyongyang is widely accused of directing state-backed hacking groups to target crypto companies to generate revenue and circumvent international sanctions.
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