May 26, 2024
News

China denies North Korean banker laundered cryptocurrency within its borders

Statement to UN Panel of Experts comes after member state alleged Sim Hyon Sop helped DPRK procure $24M in stolen crypto

China has denied allegations that a sanctioned North Korean bank representative received and laundered millions of dollars in virtual currency within its borders, according to a new U.N. report.

The U.N. Panel of Experts said in its latest report that Sim Hyon Sop, a China-based representative of the sanctioned Korea Kwangson Banking Corporation (KKBC), allegedly received over $24 million worth of laundered digital assets, citing a member state. 

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