Even some of the most stalwart cryptocurrency true believers are questioning their faith in recent months as valuations across the entire market have plummeted from the past year’s all-time highs. But while many are lamenting their losses, few are hurting as much as *checks notes* Kim Jong-Un, apparently.
Reuters reports that North Korea’s massive crypto hauls from various hacks and heists in recent years are now worth staggeringly less than their initial numbers, something which poses a huge problem for a country whose stolen funds largely finance its nuclear and military programs. One massive theft earlier this year, for example, has decreased by somewhere between 80 and 85 percent in value, to just under $10 million. Sure, that’s objectively still a lot of money... but not when you already sunk $620 million this year alone into your missile and rocketry developments.
