North Korea Allegedly Uses a Mixer to Launder Money Using Crypto

North Korea is reportedly ramping up the use of cryptocurrencies to evade US economic sanctions. It’s also alleged that the country is developing its own native crypto asset to further assist moving money across borders, according to a duo of financial intelligence analysts from Washington D.C.

According to a detailed interview with Hong Kong-based business news publication, Asia Times, independent financial analysts Lourdes Miranda and Ross Delston believe that North Korea has been using cryptocurrencies to circumvent U.S. led economic sanctions.

The pair of analysts explain that North Korea would use a “mixer” also known as a “Laundry, Tumbler and a Washer” to move cryptocurrencies in such a way as to hide their tracks, which often includes sending the same type of cryptocurrency back to the original source.