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Financial Times
Financial Times
Business
Christian Davies in Seoul and Scott Chipolina in London

How North Korea became a mastermind of crypto cyber crime

© FT illlustration

Created by a Vietnamese gaming studio, Axie Infinity offers players the chance to breed, trade and fight Pokémon-like cartoon monsters to earn cryptocurrencies including the game’s own “Smooth Love Potion” digital token. At one stage, it had more than a million active players.

But earlier this year, the network of blockchains that underpin the game’s virtual world was raided by a North Korean hacking syndicate, which made off with roughly $620mn in the ether cryptocurrency.

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