Jack Recider

North Korea. So North Korea's military has something called the Reconnaissance General Bureau. In it are believed to be where thousands of hackers are trained and tasked with completing military objectives. This isn't the first time they've been accused of stealing millions of dollars in crypto. And it's estimated that they've stolen over a billion dollars in cryptocurrency now.

North Korea. So North Korea's military has something called the Reconnaissance General Bureau. In it are believed to be where thousands of hackers are trained and tasked with completing military objectives. This isn't the first time they've been accused of stealing millions of dollars in crypto. And it's estimated that they've stolen over a billion dollars in cryptocurrency now.

I can't think of another country where their government is hacking for financial gain like this.

I can't think of another country where their government is hacking for financial gain like this.

Hmm. But now that I said that out loud, that I don't know of another country that hacks for financial gain, I'm reminded of an episode I did with a CIA agent. It was episode 116 called Mad Dog. In it, a CIA agent told me he tricked a diplomat from another country to give him information on an upcoming trade deal between the U.S. and that country.

Hmm. But now that I said that out loud, that I don't know of another country that hacks for financial gain, I'm reminded of an episode I did with a CIA agent. It was episode 116 called Mad Dog. In it, a CIA agent told me he tricked a diplomat from another country to give him information on an upcoming trade deal between the U.S. and that country.

He saw what their bottom line was, the lowest amount that they would accept in the trade deal. And he gave this information to the U.S., who in turn used that information to save the U.S. billions of dollars in the trade deal. Is this hacking for financial gain? Social engineering for profit, maybe?

He saw what their bottom line was, the lowest amount that they would accept in the trade deal. And he gave this information to the U.S., who in turn used that information to save the U.S. billions of dollars in the trade deal. Is this hacking for financial gain? Social engineering for profit, maybe?

I guess economic security falls under national security, and countries will go to great lengths to keep their economic security going well.

I guess economic security falls under national security, and countries will go to great lengths to keep their economic security going well.

Well, hang on a second now. So they have 170,000 Ethereum tokens. They need to turn that into dollars so that they can buy whatever. Why don't they just set up an exchange in North Korea that they can just send it to and be like, all right, done.

Well, hang on a second now. So they have 170,000 Ethereum tokens. They need to turn that into dollars so that they can buy whatever. Why don't they just set up an exchange in North Korea that they can just send it to and be like, all right, done.

Okay, so North Korea has $625 million in stolen cryptocurrency, specifically Ethereum and USDC. We should say there's allegations North Korea denies these allegations of being involved in these hacks. Okay, so it's supposedly North Korea. A lot of evidence points to them, but we don't know for certain. I think it was.

Okay, so North Korea has $625 million in stolen cryptocurrency, specifically Ethereum and USDC. We should say there's allegations North Korea denies these allegations of being involved in these hacks. Okay, so it's supposedly North Korea. A lot of evidence points to them, but we don't know for certain. I think it was.

Now, the way these cryptocurrencies work is there's no way to recover that money. This is real ownership. As I was saying earlier, there's no central bank that can reverse the transfer or pull the money back out. The money is North Korea's, and there's nothing anyone can do about that ever. Except, North Korea is under strict sanctions, which means it's forbidden to do business with them.

Now, the way these cryptocurrencies work is there's no way to recover that money. This is real ownership. As I was saying earlier, there's no central bank that can reverse the transfer or pull the money back out. The money is North Korea's, and there's nothing anyone can do about that ever. Except, North Korea is under strict sanctions, which means it's forbidden to do business with them.

On top of that, it's stolen money, and those wallets were flagged. So exchanges won't simply let them exchange it into cash. What they need is a chop shop. The only reason why I know about chop shops is because of playing Grand Theft Auto.

On top of that, it's stolen money, and those wallets were flagged. So exchanges won't simply let them exchange it into cash. What they need is a chop shop. The only reason why I know about chop shops is because of playing Grand Theft Auto.

And when I was playing the game and I stole a car and the police were chasing after me, I could take that car into a chop shop and they'd scratch off the VIN, paint the car a different color and give it a new license plate. Then, when I got back on the road, I could drive right past the police without them knowing it's the same stolen car since it looks entirely different.

And when I was playing the game and I stole a car and the police were chasing after me, I could take that car into a chop shop and they'd scratch off the VIN, paint the car a different color and give it a new license plate. Then, when I got back on the road, I could drive right past the police without them knowing it's the same stolen car since it looks entirely different.