Cryptocurrency is increasingly enabling sanctioned states like North Korea and Iran to finance illicit weapons programs, according to a June 2025 report by the Financial Action Task Force (FATF), an intergovernmental organization established over three decades ago by G7 countries.

The global watchdog identifies blockchain-based assets as critical vulnerabilities exploited by proliferation finance networks, citing incidents such as North Korea’s theft of $1.4 billion from crypto exchange ByBit in February, facilitated by mixing services, unhosted wallets, and weakly regulated exchanges.

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Author: Vince Dioquino

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