UN warns people to steer clear of North Korea crypto conference

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The North Korea crypto conference is due next month, and the international sanctions experts from United Nations (UN) have warned the crypto community to steer clear of the conference as it is likely to promote misuse of blockchain and cryptocurrency to invade imposed restrictions.

For more than a decade now, North Korea has been under the scanner of almost all regulatory bodies for its debatable missiles and nuclear programs. Over the years, the UN’s security council have only made these restrictions more stringent, prompting the North Korean government to look for alternative ways to do business with other nations.

Last year in August, a UN report revealed that the country has pocketed over two billion US dollars ($2 billion) through a series of cyberattacks to fund its extensive ammunition program. Although North Korea refuted these claims soon after, it appears that the international organization, representing peace and solidarity, is unwilling to let it off the hook.

And it has all the reasons not to. It was just recently when the ill-famed Ethereum developer, Virgil Griffith, was officially indicted over allegedly breaching the International Emergency Economic Powers Act (IEEPA).

UN tries to keep people from attending North Korea crypto conference

Today, Reuters reported that the UN has warned people from traveling to Pyongyang to attend the conference. The warning, which is in the form of a report that is due for submission to the UN Security Council later this month, cites that the presentation topics at the conference contain explicit information about ways to circumvent the sanctions through illicit use of blockchain and cryptocurrency.

Commenting on the intended purpose of the North Korea crypto conference, which is scheduled to be held from 22nd February 2020 to 29th February 2020, the UN report states that due to lack of media coverage, the proceedings and the exact content remain undisclosed. However, the news of the recent indictment of American programmer, Virgil Griffith, has made them issue such a warning.

Another issue that prompted such a reaction is a controversial post published by the North Korea crypto conference official website. It notes that the conference welcomes attendees and participants from the United States and that the immigration will ensure there is no record of the travel to prevent them from getting arrested or penalized.

Featured Image by Pixabay

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