Cryptocurrencies, initially seen as tools of financial freedom, are becoming increasingly vital for financing military operations in various regions across the globe. This article analyzes the use of cryptocurrencies in conflicts, from North Korea to Ukraine.
North Korea and the Nuclear Program
North Korea uses cryptocurrencies to fund its nuclear program through the actions of the Lazarus Group, a hacker organization that has stolen billions from cryptocurrency exchanges. Reports indicate that around 40% of these funds are directed towards the development of ballistic missiles.
Crypto as a Fundraising Tool During Military Conflicts
Military conflicts, such as the war between Ukraine and Russia, have also showcased the use of cryptocurrencies for fundraising efforts. Both nations have utilized crypto addresses to solicit donations for military needs. For example, Ukraine was able to organize cryptocurrency fundraising after the signing of the 'On Virtual Assets' law in March 2022.
Potential of Palantir and Cryptocurrencies
Palantir, a data analysis company actively working with the U.S. military, has been considering its expansion into the cryptocurrency market. While it has strong connections with crypto enthusiasts, the company has yet to fully realize the potential of cryptocurrency engagement, although its regular deals have caught investor attention.
Cryptocurrencies have already become an integral part of military funding, posing new challenges for the global community. Digital assets can support struggles for independence while also financing threats to global security.
