US & South Korea Crack $5M North Korean Crypto Laundering Scheme
The United States has really upped the ante on its fight against North Korea's crypto-funded weapons programme...
Quick overview
- The U.S. has announced new sanctions targeting North Korea's crypto-funded weapons program to disrupt illicit digital cash flows.
- Key entities like the Korea Mangyongdae Computer Technology Company and Ryujong Credit Bank are implicated in facilitating North Korea's financial operations.
- South Korea is reviewing its sanctions policy in coordination with the U.S. to address North Korea's cyber threats and strengthen joint measures.
- Both nations plan to enhance cyber intelligence sharing, financial monitoring, and diplomatic pressure to combat North Korea's financial networks.
The United States has really upped the ante on its fight against North Korea’s crypto-funded weapons programme, announcing new sanctions aimed squarely at shutting down Pyongyang’s illicit digital cash flows.
According to the US Treasury Department, these sanctions are targeting the outfits and individuals who are helping to shift around millions in stolen cryptocurrency that’s being used to prop up the country’s nuclear and ballistic missile programmes.
Washington has outed the Korea Mangyongdae Computer Technology Company as one of the firms using IT worker cells set up in Chinese cities such as Shenyang and Dandong – these units are apparently bringing in a pretty tidy sum of crypto-based income for the North Korean regime.
Another outfit, Ryujong Credit Bank has been flagged for enabling cross-border money laundering between China and North Korea, and helping to get funds back to the regime from overseas workers in breach of U.N. sanctions.
Key players listed in the sanctions include Jang Kuk Chol and Ho Jong Son, two North Korean bankers accused of handling over $5 million in cryptocurrency tied up in ransomware schemes and IT revenues.
Treasury officials pointed out that there were a bunch of operatives based in Russia and China helping to shift these millions through shell companies and local financial networks – all of this while trying to avoid international restrictions.
🚨🚨JUST IN 🚨
🇰🇵🇺🇸 KIM JONG UN’S CRYPTO CRUSADE JUST BLEW UP HIS COVER
Washington just hit Pyongyang with a fresh wave of sanctions – this time over crypto-fueled nuke money. Turns out North Korea’s been laundering billions through digital heists to bankroll its weapons… pic.twitter.com/ieQIljxWtM
— Core (SatoshiPlus) #BTC, #ETH & #BNB Believers (@corechaincrypto) November 6, 2025
Seoul Weighs Up New Sanctions Policy
In response, South Korea’s Vice Foreign Minister Kim Ji-na has said that Seoul is open to going back over its sanctions approach against North Korea’s cybercrimes – she stressed that coordination between the U.S. and South Korea is going to be essential to get to the bottom of these growing digital threats that could start to undermine both countries’ financial systems.
Kim also said that Seoul’s review of its sanctions policy will align with the U.S.’s overall strategy. This could be a big step towards strengthening the joint measures they have in place to tackle crypto theft and hacking operations which have apparently been funnelling billions of dollars into Pyongyang’s weapons programmes.
Key Focus Areas for U.S.–Korea Coordination
To tackle North Korea’s growing digital threat, both countries are going to be ramping up:
- Joint Cyber Intelligence Sharing: real time data exchange to track down those wallets and laundering routes linked to DPRK.
- Financial Monitoring: getting a closer eye on crypto exchanges operating in East Asia.
- Diplomatic Pressure: working together to cut off North Korea’s financial networks.
Kim said that South Korea will finalise its approach once the U.S. has made the changes to that joint fact sheet from the October summit between President Lee Jae Myung and President Donald Trump – they want to make sure they’re coming out with a unified response to North Korea’s digital warfare tactics.
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