The isolated country continues to find ways to evade sanctions and generate income while operating on the fringes of the global financial system.
SEOUL — North Korea’s economy has been ravaged by United Nations sanctions and the coronavirus pandemic. The government has warned of a severe food shortage. An unidentified intestinal disease began spreading among citizens in June.
And yet the country has conducted more missile tests this year than in any previous year. The government is giving new luxury homes to party elites. Kim Jong-un, North Korea’s leader, has promised to develop advanced technology for the nation’s growing weapons arsenal. A new nuclear test — the country’s seventh — is expected to happen any moment.
Where has the money come from?
In April, the United States identified a key part of the puzzle when it publicly accused North Korean hackers of stealing $620 million in cryptocurrency from the video game Axie Infinity. The theft, one of the largest of its kind,...
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