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Reuters
Reuters
Business
Josh Smith

Crypto crash threatens North Korea's stolen funds as it ramps up weapons tests

FILE PHOTO: Hwasong-17 intercontinental ballistic missiles take part in a nighttime military parade to mark the 90th anniversary of the founding of the Korean People's Revolutionary Army in Pyongyang, North Korea, in this undated photo released by North Korea's Korean Central News Agency (KCNA) on April 26, 2022. KCNA via REUTERS/File Photo

The nosedive in cryptocurrency markets has wiped out millions of dollars in funds stolen by North Korean hackers, four digital investigators say, threatening a key source of funding for the sanctions-stricken country and its weapons programmes.

North Korea has poured resources into stealing cryptocurrencies in recent years, making it a potent hacking threat and leading to one of the largest cryptocurrency heists on record in March, in which almost $615 million was stolen, according to the U.S. Treasury.

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