UN Warns Against North Korean Crypto Conference Amid Sanctions Concerns

The Consequences of Attending

Mark your calendars for February, but maybe keep your travel plans in check! The United Nations has issued a stern warning about a cryptocurrency conference in North Korea, hinting that attending it could land you in hot water regarding sanctions violations. Sounds like a party no one wants an invite to, right?

Griffith’s Legal Fallout

Last week, we saw the notorious case of Ethereum Foundation researcher Virgil Griffith take a wild turn as he faced indictment for conspiracy to violate the International Emergency Economic Powers Act. His attendance at last year’s North Korean blockchain bonanza is believed to have let the country sidestep some international sanctions. Talk about being in the wrong place at the wrong time, or more fittingly, the wrong country!

What’s Allowed? Not Much!

Want to attend this year’s conference? Well, the event’s website states that visitors from nearly all countries can join except for those from South Korea, Japan, and Israel. And don’t worry about that pesky passport stamp; they’ll just slip you a paper visa instead! They assure you that your entry will remain a well-kept secret…until you post it on social media.

Experts Advise Caution

In light of the warning from the UN, experts in sanctions are collectively shaking their heads and saying, “Just don’t go.” North Korea has faced U.N. sanctions since 2006 for its nuclear antics. The restrictions aim to curb financial transactions and technical assistance that might contribute to these programs. If you find yourself discussing blockchain for sanctions evasion, that probably qualifies as breaking the bank—or the sanction, rather!

Lazarus Group’s Crypto Skills

Let’s not forget about the infamous Lazarus Group, the North Korean hackers. They’ve been busy launching new schemes to pilfer cryptocurrency, stealing an eye-watering amount—over half a billion dollars, to be precise. So, if you thought you were safe at the conference with your crypto wallet, think again! The illicit charm of these cyber crooks might just outshine even the flashiest of keynote speakers.