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Stablecoins Replace Bitcoin as Preferred Currency for North Korea's Illegal Trade
North Korea’s weapons import-export organization, the “221 Bureau,” recently sold a portable air defense system to a buyer in Sudan, a country mired in civil war, for $10 million (approximately 14.5 billion Korean won). The buyer transferred the payment in “Tether,” the world’s largest dollar-pegged stablecoin. Stablecoins are cryptocurrencies designed to maintain a stable value tied to fiat currencies like the U.S. dollar, such as “1 coin = $1.” Last year, another North Korean seller received part of the payment in Tether after selling military communication satellite equipment to a buyer in Laos. ... (full story)
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