The United States on Nov. 4 imposed sanctions on individuals and entities accused of assisting North Korea in laundering money generated from cyberespionage and illicit activities.
The Treasury said the measures aim to cut off financial resources that support Pyongyang’s nuclear programs because the communist regime in Pyongyang relies on such illicit activities to fund its ballistic missile and weapons of mass destruction programs.
More than $3 billion—mostly in cryptocurrency—has been siphoned off by North Korean-affiliated cybercriminals through advanced malware and social engineering over the past three years, according to the Treasury’s estimates. The department described the scale of financial theft by Pyongyang as unparalleled by any other nation….