North Korea is a “determined and sophisticated cyber actor in need of financial resources,” claims a newly published security report, that could significantly step up its efforts to target Southeast Asia’s “nascent but burgeoning cryptocurrency industry” as it continues “to find ways of obtaining and exploiting cryptocurrencies.”
The report, entitled “Closing the Gap: Guidance for Countering North Korean Cryptocurrency Activity in Southeast Asia” was published today by the London-based defense think tank, the Royal United Services Institute (RUSI). It argues that, as North Korea is subject to extensive international sanctions, it has employed numerous techniques to raise and move funds, and to access prohibited goods and services. This, says the RUSI, could present a “sustained security challenge” to the region.
In March, another report – published by the UN Security Council’s North Korea sanctions committee – claimed Pyongyang had amassed more than US$670