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US Crypto Exchanges a ‘Blind Spot’ in North Korea Laundering Scheme
US Crypto Exchanges a ‘Blind Spot’ in North Korea Laundering Scheme
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BTCCSquare news:
North Korean developers, masquerading as freelance tech workers, have allegedly siphoned over $16.5 million this year by infiltrating cryptocurrency and traditional tech firms. Crypto investigator ZachXBT uncovered the scheme, revealing how these operatives exploited US-based exchanges to launder funds.
The report highlights a growing vulnerability in the crypto ecosystem, where pseudonymous transactions and lax identity verification on some platforms enable illicit financial flows. While the specific coins involved remain unidentified, the case underscores the need for stronger compliance measures across all trading venues.
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