A team of South Korean spies and American private investigators quietly gathered at the South Korean intelligence service in January, just days after North Korea fired three ballistic missiles into the sea.
For months, they’d been tracking $100 million stolen from a California cryptocurrency firm named Harmony, waiting for North Korean hackers to move the stolen crypto into accounts that could eventually be converted to dollars or Chinese yuan, hard currency that could fund the country’s illegal missile program.
In an interview, a US Treasury official focused on North Korea declined to give an estimate. The public record of blockchain transactions helps US officials track suspected North Korean operatives’ efforts to move cryptocurrency, the Treasury official said. But when North Korea gets help from other countries in laundering that money it is “incredibly concerning,” the official said.
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