Report: Crypto Market Crash Wipes Millions of Dollars From North Korea’s Kitt...
The recent plunge in the value of cryptocurrencies may have wiped out millions from North Korea’s fund comprised of stolen crypto assets. The diminishing value of cryptocurrencies is believed to be affecting Pyongyang’s ability to fund its weapons programs. Stolen Crypto Assets and North Korea’s Weapons Programs The recent crash of the crypto market may have wiped out millions of dollars in value from North Korea’s fund of stolen cryptocurrency, digital asset investigators have said. The drop in value of the crypto assets could supposedly threaten....
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While North Korea leads the world in crypto crime, crypto analytic firms have estimated that DPRK hackers have found it increasingly difficult to launder stolen crypto funds. North Korea leads the world in crypto crime, with over 15 documented instances of cyber theft amounting to $1.59 billion in stolen funds. However, the recent crypto market turmoil has wiped out millions of dollars from the country’s stolen crypto portfolio.The crypto market rundown that started in May wiped out hundreds of billions of dollars from the crypto industry, where most of the crypto assets fell by over 70%....
Per a BBC report, the controversial Democratic People’s Republic of Korea (DPRK) Missile Program has been funded with stolen crypto. The report cites an alleged United Nation’s Sanctions Committee investigation released last Friday. The entity claims that the Asian country has taken millions in digital assets across many years. Related Reading | Hacker Helps Recover […]
This Friday, the first South Korean crypto regulatory framework has gone into effect after the one-year preparation period. The new law requires firms in the country to comply with stricter requirements to protect investors and their assets. Related Reading: $235 Million Crypto Theft from WazirX Was ‘Perpetrated’ By North Korean Hackers, Report Reveals South Korea’s […]
The bitcoin crash rocked the market to its core when the digital asset had lost over 50% of its all-time high value to bottom out at $33,000. It was as a result of market sell-offs across the financial space, sparking a ripple effect that was felt heavily in the crypto market. Market sentiment had crumbled during this time as investors had scrambled to sell their holdings. However, not everyone saw the declining prices as a signal to sell before prices tank even more. Whales, who control a large portion of the circulating supply, took this as a cue to buy and have been filling their bags....
Ethereum crumbled with the market during the last crash and is yet to recover to previous levels. The crash was characterized by sell-offs and liquidations from all angles, which continued even when the price dumped further. Fear of a bear market sparked this as investors wanted to get out before the price fell further. But not everyone followed this trend of dumping. Whales have always been known to move differently from smaller investors when it comes to the crypto market and this time was no different. While investors panic sold their holdings at low prices, these whales quietly gobbled....