US and South Korea: ”More than 40% of North Korea's ballistic missile development funds are in 'cryptocurrency'”... ”Public-private cooperation is important”

US and South Korean diplomatic officials said, "North Korea continues to seize virtual currency to raise funds for the development of WMD (weapons of mass destruction) and ballistic missiles, so public-private cooperation, including between the US and South Korean governments, is important."
The South Korean Ministry of Foreign Affairs and the US State Department jointly held the US-ROK Public-Private Symposium in New York on the 27th (local time).
"Protecting the Virtual Asset Industry from Illegal Cyber Activities by North Korea and Blocking North Korea's Financing"
The symposium, which was held under the theme of "Decision-Making from the Outside World," was attended online and offline by over 300 people from governments, public and private sectors, and experts from around 40 countries.
Seth Bailey, the US State Department's special deputy special representative for North Korea, cited a report from a cryptocurrency intelligence company saying, "The amount of virtual assets seized worldwide last year was
"We estimate that one-third of the total stolen cryptocurrency was made by North Korean hackers," he said, speculating that the amount stolen this year will likely be much larger.
"It is a major new source of revenue for North Korea," he said, estimating that "more than 40% of the funding for North Korea's WMD and ballistic missile development programs is likely raised through virtual currency routes."
"North Korea is the largest cryptocurrency swindler in the world, and the amount of funds seized is estimated at 1.2 trillion yen," said Lee Jun-il, director of the Korean Peninsula Policy Bureau at the South Korean Ministry of Foreign Affairs.
"North Korea's methods for seizing virtual assets are becoming more sophisticated by the day, so close cooperation between the public and private sectors is extremely important," he said.