North Korea arrests hackers accused of laundering stolen funds from country's bank via crypto

FinanceNorth Korea arrests hackers accused of laundering stolen funds from country's bank via cryptoThe group allegedly breached Central Bank systems, converted crypto to cash via Chinese brokers, and used small transfers to evade detection.By Francisco Rodrigues|Edited by Aoyon AshrafUpdated Jul 25, 2026, 3:47 p.m.

Published Jul 25, 2026, 3:46 p.m. 1 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on Flags fly in Pyongyang, North Korea (Micha Brandli/Unsplash)SummaryShowNorth Korean authorities arrested former military hackers for stealing funds from two state banks and laundering the money through cryptocurrency.

The group allegedly breached Central Bank systems, converted crypto to cash via Chinese brokers, and used small transfers to evade detection.North Korean hackers remain major players in global crypto exploits, accounting for a significant majority of hack and scam losses through early 2026.North Korean authorities arrested former military hackers accused of stealing state funds from two banks and laundering the proceeds through cryptocurrency.

The group, according to a Daily NK report citing an anonymous source in Pyongyang, allegedly breached the internal systems of the Central Bank of the DPRK and Foreign Trade Bank, diverted foreign currency and state trade funds, and moved the money into overseas crypto wallets.The report could not be independently verified.Chinese brokers then converted the assets into U.

S. dollars and yuan, Daily NK said. Contacts in the border cities of Sinuiju and Hyesan allegedly exchanged the crypto for cash in real time, with the group splitting transfers into small amounts to avoid detection and using encrypted messaging apps, unregistered phones and Chinese wireless equipment.

North Korea’s National Intelligence Agency arrested the suspects at a Pyongyang safe house on July 12 after officials detected discrepancies in foreign-currency payment approvals and suspicious overseas IP activity, according to the report.The laundering route mirrors methods used by North Korean hacking groups to cash out stolen crypto.A multinational sanctions-monitoring report said Chinese over-the-counter traders and financial institutions play a central role in converting crypto stolen by Pyongyang-linked operators into fiat.

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46% FinanceNorth Korea arrests hackers accused of laundering stolen funds from country's bank via cryptoThe group allegedly breached Central Bank systems, converted crypto to cash via Chinese brokers, and used small transfers to evade detection.By Francisco Rodrigues|Edited by Aoyon AshrafUpdated Jul 25, 2026, 3:47 p.m.

Published Jul 25, 2026, 3:46 p.m. 1 min readMake preferred on Share