In Asia, adoption of tokens without abusive language is rapidly increasing, and some countries are leading the list of the highest NFT adoption rates. North Korea is the latest Asian country that adopts inseparable tokens as foreign currency. At the world’s level, NFT’s interest and use examples are evidence of maturity as a serious digital asset class where NFT is a serious digital asset class. In this article, we will look more closely at the NFT integration of the foreign market.
North Korea adopts NFT for foreign transactions.
Earlier today, according to some technical staff reports, the North Korean government is indirectly exploring the use of inseparable tokens with foreign currency. According to a reliable source shared with DAILY NK, the North Korean government has tested whether it can produce foreign currency through NFT by secretly secretly conducting secret experiments in China since January 2025. Report explanation:
“Some technical employees at the Korea Computer Center have been disguised as a trade representative since the end of January, rented several areas in China, and experimented with foreign currency income by selling NFT works in the NFT market.
Based on this report, the experiment was part of the North Korean government’s efforts to secure a new source of foreign currency. Two to three technical staff have approached overseas markets and trade networks in various Chinese cities to investigate the technical feasibility and profitability. They tried to register and sell NFT in the Southeast Asian NFT Marketplace in Thailand and the Philippines, where the requirements of identification are less strict. The sauce is more revealed.
“North Korea was more interested in the structure of allowing the transmission of anonymous assets than the market platform and NFTS where NFT traded. We experimented with how to hide the actual ownership through the blockchain wallet and register NFT assets and profits in the third company name.”
North Korea taps NFT for illegal transactions.
According to the final report of the technical employee, NFT -based revenue is technically possible, but it is technically possible due to China’s legal risks, high operating costs for instability and profits of Southeast Asian NFT market platforms, but not practical. North Korea aimed to avoid sanctions from other countries by using NFT as a new foreign currency acquisition method.
This is not the first time the North Korean regime is involved in shaded practices. Earlier this year, hackers thought they were working in the North Korean regime. Crypto Exchange BYBIT has successfully stored more than $ 1.5 billion and later switched to a fund that could not recover at least $ 300 million in record encryption raids. Since 2021, North Korean hackers have stolen billions of dollars in the cryptographic market.
BYBIT lost more than $ 1.5B with a single mistake.
The hacker has produced more than 500K
How much does ETH react? 🧵 🧵 pic.twitter.com/fdsln8xb0n
-Mash@(@0xmash_) February 21, 2025
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