Confidential UN Report Says North Korean Crypto Hackers Funding Nuclear Programmes
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- The United States and others reported nine ballistic missile launches on Friday.
- North Korea carried out at least seven cyberattacks on crypto platforms last year.
North Korea continued to expand its nuclear and ballistic missile programs in the previous year. According to an extract of a classified United Nations report on Saturday, cyberattacks on cryptocurrency exchanges were a significant money source for Pyongyang.
The UN Security Council’s North Korea sanctions committee submitted its annual report from independent sanctions monitors on Friday night. As the Democratic People’s Republic of Korea (DPRK), North Korea is the country’s official name. The UN Security Council has long prohibited it from conducting nuclear tests or launching ballistic missiles.
The report mentioned:
“Maintenance and development of DPRK’s nuclear and ballistic missile infrastructure continued, and DPRK continued to seek material, technology and know-how for these programs overseas, including through cyber means and joint scientific research.”
Crypto Hacking a Significant Source of Funding
As part of the UN Security Council’s ongoing attempt to cut off funds for Pyongyang’s nuclear and ballistic missile programs, sanctions have been in place against the North Korean government since 2006.
The United States and others reported nine ballistic missile launches on Friday. Making it the highest monthly number in North Korea’s weapons of mass destruction and missile programs. According to the monitors, crypto hacking is still a significant source of cash for North Korean hackers. It stated, “cyberattacks, particularly on cryptocurrency assets, remain an important revenue source.”
Additionally, the monitors used data from the cybersecurity company Chainalysis. North Korea carried out at least seven cyberattacks on cryptocurrency platforms last year. Resulting in the theft of more than $400 million in digital money. According to UN sanctions monitors, it was projected that North Korea collected $2 billion in revenue for its weapons of mass destruction programs in 2019. Thanks to widespread and more sophisticated cyberattacks.
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