The regime’s war chest of stolen cryptocurrency is suddenly worth a lot less than it used to be. Today’s example comes from North Korea, where the country’s war chests are now worth less.
An exceptionally funny sentence from Reuters gives an extremely funny sentence. It’s the longest-serving sentence in the world of journalism.
Old, unlaundered North Korean crypto holdings have decreased in value from $ 170 million to $ 65 million since the beginning of the year. New York-based blockchain analytics firm Chainalysis monitored the old crypto holdings.
The crypto from one 2021 heist has lost at least 80 percent of its value. North Korea has called this’totally fake news’.
Griffith once worked for the Ethereum foundation. He traveled to North Korea for a cryptocurrency conference. Griffith was eventually sentenced to more than five years.
North Koreans have to turn their stolen cryptocurrency into real money, fiat currency, to use it. The theft is unlikely to get face value. North Korea’s actual takings from cybercrime were less than they appeared to be.