Strict Investigation Needed
People Power Party lawmaker Yoon Han-hong remarked on Oct. 11 that North Korean hackers sent 75 billion won to South Korean cryptocurrency exchanges.
“It is likely that the money flowed back into the North after a surge in value,” he said, adding, “The abnormal overseas remittances the Financial Supervisory Service has detected at 12 banks so far amount to US$7.22 billion and these remittances are likely to include those to North Korea.”
“Cryptocurrency trading and transactions have explosively increased for years, and yet no organization is in charge of investigating the histories,” he went on to say, continuing, “The Financial Supervisory Service needs to investigate cash flow to the North through South Korean cryptocurrency exchanges and banks.”
The Financial Supervisory Service said in response that it would look into financial institutions, in cooperation with the police and the prosecution if necessary, although its inspection of cryptocurrency exchanges may have its own limitations.