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Have you ever heard of the term "encryption"? North Korea (DPRK) is trading, washing and encrypting cryptocurrencies like Bitcoin (BTC) and perhaps Monero (XMR) in order to circumvent US sanctions, intelligence experts say Asia Times. The isolated country with a population of 25 million could raise up to $ 200 million to finance its ballistic and nuclear missile programs through digital currencies.
Lourdes Miranda, a financial information analyst, and Ross Delston, a terrorist financing expert, told the paper that Kim Jong-un's regime is exchanging cryptocurrencies in various exchanges and mixing coins (which hinder senders and tokens). These have the effect of money laundering by hiding the source of funds in order to raise money and finance their military programs, including ballistic and nuclear missile programs that are shaking the region. According to the experts, DPKR is able to evade US sanctions and cash in its cryptos using sophisticated methods (described below).
"The DPRK can create its own crypto-currencies or use the established ones like Bitcoin." Having their own crypto-currency would also facilitate their ability to open online accounts under the guise of a non-antagonist nation using anonymous communications to hide their positions and # 39; use of the user on the internet. "
For some time, some scrambled observers suspected that Kim Jong-un's regime had undermined cryptocurrencies, particularly Bitcoin, to make money for the peninsula short of money. And there are persistent rumors on the web that the dictator and / or his regime have thousands of bitcoins.
To put things in perspective, the scrambled is not just a fundraising activity when it comes to the volatile peninsula: it partly solves a threat to national security to defect military officials and generals like Kim Jong-un has desperately fought for pay and feed his army. It is plausible that the DPRK also uses private currencies such as Monero specialized as non-governable and undetectable.
In their joint statement, Miranda and Delston said that North Korea is using advanced methods to confuse information on the blockchain. This includes the creation of blockchain and wallet services of DPRK as well as the use of anonymous communications and cross-border payments with foreign agents who have accounts with US correspondent banks.
"To obscure the origin of cryptocurrencies from North Korea, DPRK could transfer its crypto-currency from multiple European portfolios and use multiple mixing services to purchase Bitcoin – the most popular and legitimate crypto-currency", He said. "Then, using other mixing services, DPRK could split their Bitcoins and transfer them to multiple mixing services, breaking the linear model of transactions on the blockchain while remaining in the same type of cryptocurrency – Bitcoin."
Experts believe that North Korea is using agents that may be located in China, India, Malaysia and the Philippines, among other countries, to support encryption, but have recommended that additional intelligence funds be needed to uncover the whole scope of operations.
Earlier this month, a former CIA analyst specializing in terror funding told Congress that terrorists in the Middle East have not yet been able to use the encrypted. Yaya Fanusie testified to the House Financial Services Committee that cryptos were a poor form of money because terrorists buy goods and weapons with fiat money (ie the US dollar) in places that have poor or no infrastructure . He said that jihadists prefer cash because it is an anonymous method of financing.
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