North Korean Regime Stole $2.8B Crypto, Laundering via Criminal Networks

RUSI report confirms $2.8B in crypto stolen by North Korea from Jan 2024 to Sep 2025, laundered through global criminal syndicates and P2P markets to fund weapons programs.

Woofun AI reports that the North Korean regime appropriated at least $2.8 billion in cryptocurrency between January 2024 and September 2025, leveraging established criminal networks for money laundering. A Royal United Services Institute report indicates these proceeds support weapons programs, with funds often mixed with scam proceeds or sold via 'money mules' in the Philippines, Indonesia, and China. Stablecoins are typically liquidated through peer-to-peer markets. Following a Bybit hack, ZeroShadow found TraderTraitor utilized OTC desks and Chinese organized crime groups to move assets. Bybit has recovered $48.4 million and frozen $30.5 million, representing roughly 5% of the total stolen amount.