South Korea gets rich from crypto... North Korea gets weapons

CoinTelegraph

by Yohan Yun

February 4, 2026

AI-Generated Deep Dive Summary

South Korea has emerged as a global hub for cryptocurrency, driven by retail participation, cultural trends, and politics. Meanwhile, North Korea operates in the shadows, using cyberattacks to generate significant revenue. The article explores how these two neighboring countries have adopted cryptocurrency in vastly different ways, with South Korea fostering innovation and market influence while North Korea leverages hacking to bypass economic sanctions. In South Korea, the adoption of high-speed internet in the late 1990s laid the foundation for a crypto culture that emphasizes wealth and financial success. This mindset, combined with long work hours and limited career opportunities, made cryptocurrency an appealing alternative for young professionals seeking to escape traditional paths. The government's embrace of crypto-friendly policies during the 2022 election cycle further solidified its role in the country's economy and politics. North Korea's approach is far more covert. State-backed hackers are believed to be behind some of the most damaging cryptocurrency thefts, with estimates suggesting that crypto-related crimes contribute around 13.5% to North Korea's GDP. This method allows the isolated nation to circumvent international financial systems and generate billions in revenue through cyberoperations. The contrasting uses of cryptocurrency highlight its dual nature as both a tool for economic growth and a means of bypassing sanctions. South Korea's story underscores the potential of crypto to drive innovation and cultural change, while North Korea's example reveals the darker side of digital currency exploitation. This dichotomy makes understanding the global impact of cryptocurrency crucial for those interested in its future trajectory and ethical implications.

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Originally published on CoinTelegraph on 2/4/2026