North Korea is circumventing UN sanctions by using cryptocurrencies to trade goods and weapons, while sending IT workers abroad to launder money and generate revenue.
Under Kim Jong Un, Pyongyang has stepped up cyberattacks, a way for the country, which is under multiple international sanctions over its banned military programs, to raise foreign exchange.
The Multilateral Sanctions Monitoring Team (MSMT), tasked with monitoring the implementation of UN sanctions against North Korea, has determined that North Korean hackers embezzled at least $1,65 billion between January and September 2025.
Of this amount, $1,4 billion was embezzled in February from the cryptocurrency exchange Bybi, according to the MSMT report.
These embezzlements are in addition to North Korea's illegal gains from cryptocurrencies, which amounted to $1,2 billion in 2024, according to the MSMT.
Pyongyang is investing these funds in "the illegal development of its weapons of mass destruction and ballistic missile programs," the report said.
It added that North Korean officials have used cryptocurrencies for procurement-related transactions, including the sale and transfer of military equipment and raw materials such as copper, which are used in the production of ammunition.
The country has also circumvented UN sanctions by sending citizens specializing in IT to at least eight countries.
Most went to China, but others to Russia, Laos, Cambodia, Equatorial Guinea, Guinea, Nigeria and Tanzania.
The MSMT revealed that Pyongyang is reportedly considering sending "40.000 workers to Russia, including several delegations of IT workers."
Under UN sanctions, North Korean workers are prohibited from earning money abroad.
Pyongyang has received key support from Russia in recent years, including sending thousands of North Korean soldiers to fight alongside Russian forces against Ukraine.
The MSMT was established in October 2024. It includes Australia, Canada, France, Germany, Italy, Japan, the Netherlands, New Zealand, South Korea, the United Kingdom, and the United States.
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