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A North Korean IT hacker is seen working on a computer in an undated image shared on social media. |
[Alpha Biz= Paul Lee] SEOUL, South Korea – October 22, 2025 –
North Korea has stolen an estimated US$1.65 billion (₩2.3 trillion) in cryptocurrency between January and September 2025, according to a new report by the Multinational Sanctions Monitoring Team (MSMT) — an international task force established last year to replace the dissolved UN Panel of Experts on North Korea Sanctions.
The MSMT, launched under South Korea’s initiative and joined by 11 countries including the U.S. and Japan, said North Korean state-backed IT operatives have accelerated cyber theft activities, taking more than half of their total crypto loot from the past two years in just nine months.
The report noted that the stolen assets were laundered through financial networks in China, Russia, and Cambodia, before being converted to cash through brokers. In particular, it identified Cambodia’s Huione Group and its payment platform Huione Pay — both designated by the U.S. Treasury as “high-risk financial entities” — as key channels for money laundering and conversion.
Most North Korean IT workers involved in these schemes are affiliated with sanctioned government bodies such as the Reconnaissance General Bureau, the Ministry of Atomic Energy Industry, and the Munitions Industry Department. The MSMT estimated that 1,000–2,000 operatives are active across at least eight countries, remitting roughly half of their income back to North Korea.
In a joint statement, the 11 participating nations reaffirmed their commitment to fully enforce UN sanctions, called for the reinstatement of the UN Panel of Experts, and urged Pyongyang to engage meaningfully in diplomacy while encouraging all member states to support peace and security efforts.
알파경제 Paul Lee 특파원(hoondork1977@alphabiz.co.kr)
