North Korean cybercriminals may have developed the expertise to increasingly exploit nonfungible tokens (NFTs) to generate revenue for the regime, the U.S. Department of the Treasury has warned in a new report. 

The first Illicit Finance Risk Assessment of NFTs published Wednesday states that the DPRK has dispatched thousands of highly skilled IT workers around the world who often are employed to work on projects involving digital assets, even though most money laundering, terrorist financing and proliferation financing currently occurs in fiat currency.

“In addition to stealing funds from virtual asset firms and projects, DPRK-linked actors have engaged in separate