UN Security Council Committee on Sanctions on North Korea accuses country of money laundering through the Hong Kong blockchain company Marine China.
The committee conducted an investigation based on which it accused North Korea of applying various cryptocurrency strategies to evade international sanctions.
According to the UN, the Hong Kong company MarineChina, using blockchain technology in shipping and logistics, was created by participants from North Korea, and its owner and sole investor is Julian Kim, working under the pseudonym Tony Walker. In addition, the Committee has suspicions that Kim appointed his man as the head of the company, who several times tried to withdraw money in cash from Singapore banks.
The UN said that with the help of Marine ChinaNorth Korea made about 5,000 international transactions with stolen cryptocurrencies to complicate source tracking. The committee insists that hackers from North Korea used phishing attacks and malware to steal cryptocurrencies.
It is important to note that tough sanctions by the UN and othersInternational authorities regarding North Korea literally “push” the country to use cryptocurrencies. In September, the North Korean government announced the development of its own stablecoin with characteristics similar to bitcoin. In the same month, the country denied UN accusations of numerous hacks by financial companies, banks and cryptocurrency exchanges with the aim of stealing cryptocurrencies for the development of weapons.