{"id":65632,"date":"2025-11-27T22:54:55","date_gmt":"2025-11-27T13:54:55","guid":{"rendered":"https:\/\/www.dailynk.com\/english\/?p=65632"},"modified":"2026-04-07T13:37:20","modified_gmt":"2026-04-07T04:37:20","slug":"pyongyangs-digital-gold-rush-how-north-korean-hackers-fund-the-regime-through-crypto-theft","status":"publish","type":"post","link":"https:\/\/www.dailynk.com\/english\/pyongyangs-digital-gold-rush-how-north-korean-hackers-fund-the-regime-through-crypto-theft\/","title":{"rendered":"Pyongyang&#8217;s digital gold rush: How North Korean hackers fund the regime through crypto theft"},"content":{"rendered":"<p class=\"font-claude-response-body whitespace-normal break-words\">North Korean trade officials operating in China are illegally selling cryptocurrency to Chinese nationals, with Pyongyang earning a fortune in foreign currency as a result.<\/p>\n<p class=\"font-claude-response-body whitespace-normal break-words\">According to a Daily NK source in China recently, North Korean trade officials have recently approached Chinese businesspeople to offer them cryptocurrency, selling them between 40,000 and 50,000 Chinese yuan (approximately $5,500 to $6,900) worth of digital assets at a time.<\/p>\n<p class=\"font-claude-response-body whitespace-normal break-words\">If potential customers express a desire to buy, North Korean trade officials use a VPN to connect to the crypto asset exchange Bybit and sell their cryptocurrency using the P2P (person-to-person) method.<\/p>\n<p class=\"font-claude-response-body whitespace-normal break-words\">Most Chinese businesspeople pay for the assets and the commission in cash right away. This is good for North Korean trade officials, the source said, because they can receive foreign currency immediately \u2014 in cash \u2014 without a bank transfer.<\/p>\n<p class=\"font-claude-response-body whitespace-normal break-words\">In particular, North Korean trade officials take a 20% commission on each sale. If they sell 50,000 yuan in cryptocurrency to a Chinese businessperson, they collect a 10,000 yuan (approximately $1,380) commission.<\/p>\n<p class=\"font-claude-response-body whitespace-normal break-words\">This is a much higher commission than is charged during official deals through an exchange. Nevertheless, many Chinese businesspersons wish to buy cryptocurrency through North Korean trade officials. In particular, Chinese businesspersons who want to invest overseas in Europe or Southeast Asia actively purchase cryptocurrency through North Korean trade officials.<\/p>\n<h4 class=\"font-claude-response-heading text-text-100 mt-1 -mb-0.5\"><strong>Cryptocurrency circumvents Chinese financial controls<\/strong><\/h4>\n<p class=\"font-claude-response-body whitespace-normal break-words\">When Chinese nationals transfer foreign currency overseas to buy real estate or invest in foreign companies, they not only face restrictions from Chinese authorities but also strict procedures. However, cryptocurrency is free from inspections by the Chinese authorities, has no remittance ceilings and can be converted into dollars, making it a new option for Chinese nationals wishing to invest overseas.<\/p>\n<p class=\"font-claude-response-body whitespace-normal break-words\">Moreover, as more companies in Europe and Southeast Asia accept cryptocurrency payments, Chinese businesspeople interested in investing overseas have begun asking around for North Korean trade officials to buy cryptocurrency, even if they have no direct contact with them.<\/p>\n<p class=\"font-claude-response-body whitespace-normal break-words\">Through these cryptocurrency deals, the North Korean trade officials can meet wealthy Chinese businesspeople who are keen on foreign investments and encourage them to invest in North Korea. They can kill two birds with one stone \u2014 they can generate foreign currency income while at the same time discover new Chinese investors.<\/p>\n<p class=\"font-claude-response-body whitespace-normal break-words\">The North Korean trade officials in these deals usually work for large trading companies affiliated with the Reconnaissance Information General Bureau or the Ministry of Defense.<\/p>\n<p class=\"font-claude-response-body whitespace-normal break-words\">Powerful agencies with their own IT organizations that engage in illegal activities, such as cryptocurrency theft, generate foreign currency earnings of their own by selling cryptocurrency through officials with their affiliated trading companies.<\/p>\n<p class=\"font-claude-response-body whitespace-normal break-words\">&#8220;There are many North Korean trade officials in China, but not everyone can sell cryptocurrency,&#8221; the source said. &#8220;Trade officials with large trading companies connected with agencies like the Reconnaissance Information General Bureau sell cryptocurrency.&#8221;<\/p>\n<p><a href=\"https:\/\/www.dailynk.com\/20251125-1\/\">Read in Korean<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>North Korean trade officials operating in China are illegally selling cryptocurrency to Chinese nationals, with Pyongyang earning a fortune in foreign currency as a result. According to a Daily NK source in China recently, North Korean trade officials have recently approached Chinese businesspeople to offer them cryptocurrency, selling them between 40,000 and 50,000 Chinese yuan [&hellip;]<\/p>\n","protected":false},"author":128,"featured_media":44747,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[67,645,650],"tags":[1074,1124,1138,1811,735,759,930,931],"class_list":["post-65632","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","category-economy","category-technology","tag-cryptocurrency","tag-crackdowns","tag-overseas-workers","tag-southeast-asia","tag-trade","tag-china","tag-foreign-currency","tag-investment"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v28.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Pyongyang&#039;s digital gold rush: How North Korean hackers fund the regime through crypto theft - North Korea News \u2014 Daily NK | Latest DPRK Updates 2026<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.dailynk.com\/english\/pyongyangs-digital-gold-rush-how-north-korean-hackers-fund-the-regime-through-crypto-theft\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pyongyang&#039;s digital gold rush: How North Korean hackers fund the regime through crypto theft\" \/>\n<meta property=\"og:description\" content=\"North Korean trade officials operating in China are illegally selling cryptocurrency to Chinese nationals, with Pyongyang earning a fortune in foreign currency as a result. 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