DeFi

Coin

<ul class="wp-block-list news-points">
 <li>North Korean IT workers infiltrated crypto projects using false identities.</li>
 <li>Funds laundered through decentralized exchanges finance North Korea’s military programs.</li>
 <li>The FBI and Treasury Department are increasing scrutiny of the crypto firms involved.&nbsp;&nbsp;</li>
</ul>
North Korea is secretly infiltrating the cryptocurrency sector by disguising its citizens as IT workers and using other deceptive tactics to channel funds into the regime’s military programs.
The finding came through as U.S. authorities increased scrutiny on decentralized exchanges (DEX) involved in suspicious activities.
Investigations show how North Korea, known for exploiting vulnerabilities in cryptocurrency systems, is now preying on the sector’s decentralized and largely unregulated nature. Sources say DPRK-affiliated IT workers have falsified documents to gain access to high-profile blockchain projects undetected.
Many crypto companies, including startups, have unknowingly hired these workers, allowing North Korea to divert millions of dollars into its state-run organizations.
<h2 class="wp-block-heading" id="h-defi-platforms-particularly-vulnerable">DeFi Platforms Particularly Vulnerable</h2>
By posing as freelancers, these workers have gotten jobs on major blockchain…
The post <a href="https://coinedition.com/north-koreas-crypto-scheme-it-worker-disguise-funds-military/" rel="noopener noreferrer nofollow">North Korea’s Crypto Scheme: IT Worker Disguise Funds Military</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

North Korea’s Crypto Scheme: IT Worker Disguise Funds Military

Table of Contents

Coin Edition

Other articles published on Oct 2, 2024

BitGo Announces USDS Stablecoin Amid WBTC Controversy

Catizen (CATI), Hamster Kombat (HMSTR) Drop Amid Market Uncertainty

LiteFinance Becomes the Official Trading Partner of Leicester City Football

Circle Expands USDC Access in Brazil and Mexico via PIX and SPEI Real-Time Payment Systems

Sui Integrates SCION as a First-of-its-Kind Security Protocol for Network Validators (2 Oct)

Elon the Manipulator Solana Memecoin Will Explode 14,000% Before Exchange Listing, While Shiba In...

Join our free newsletter for daily crypto updates!