How North Korea Launders Billions in Stolen Crypto

North Korea has developed a sophisticated network for laundering funds stolen through cyberattacks, including over $5 billion since 2017. Instead of using major exchanges like Binance, the regime relies on over-the-counter brokers and unregulated exchanges globally to off-ramp stolen cryptocurrencies. The process is complex and bottlenecked as they typically use mixers to obfuscate transactions. While governmental agencies monitor these laundering efforts closely, the success of North Korea’s operations heavily depends on the global compliance landscape and the ability to convert digital assets into fiat currencies.