North Korea may Have to Forfeit 113 Cryptocurrency Accounts

The involvement of North Korea in cryptocurrency has always been subject to speculation. A new report seems to indicate that the US wants to gain control of all digital assets tied to this country.

Various countries around the world are subject to sanctions.

The Role of North Korea in Bitcoin

These sanctions are imposed for a wide variety of reasons, including financial wrongdoings or other crimes.

In the case of North Korea, it is not difficult to see why these sanctions are put in place.

Bypassing and evading these rules has been a popular practice in certain regions.

Over the years, numerous reports have surfaced as to how North Korea is using Bitcoin to evade these sanctions altogether.

Domestic state-sponsored hacking groups have also been tied to attacks against South Korean exchanges and trading platforms.

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The US is now taking this concept to a whole new level.

By actively suing to gain control of crypto assets is a very interesting move.

A total of 113 accounts have been identified, and may be forfeited in the near future. 

As the funds in these accounts are obtained through illegal means, the outcome may be carved in stone.

That said, controlling the assets is a different matter.

This is very different from seizing a bank account, as cryptocurrencies have no centralized authority. 

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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