U.S. State Department: About 40% of North Korea's funding for the development of weapons of mass destruction is obtained through the theft of virtual assets

ChainCatcher News: The U.S. State Department stated that during the attendance of Special Envoy for North Korea, Seth Bailey, at the "Preventing North Korean Virtual Asset Money Laundering U.S.-Korea Joint Civilian Seminar," the theft of virtual currency is a relatively new source of income for North Korea. It is estimated that over 40% of the funding for North Korea's weapons of mass destruction (WMD) and ballistic missile development programs is raised through virtual currency channels.

Bailey cited a report from blockchain research firm TRM Labs, which indicated that last year, about one-third of global virtual asset thefts were carried out by North Korean hackers, and this year's theft amount is expected to increase further.

Bailey emphasized, "We are working closely with like-minded countries such as South Korea and Japan to develop government policies and procedures that will have a direct impact on North Korean behavior."