North Korea stole cryptocurrencies on a large scale to fund its nuclear weapons and missile programs, according to a UN report. For the period from 2019 to November 2020 alone, virtual currencies worth a total of around 316 million dollars (262 million euros) were stolen, according to the confidential UN report, which was prepared by a panel of experts to review the sanctions against Pyongyang .
The leadership in Pyongyang is using the money to advance its nuclear program and the development of missiles. To do this, financial institutions would be hacked.
North Korea has thousands of hackers in action to hack into institutions, companies and scientists in South Korea and around the world. They are said to be tasked with generating new income in view of the sanctions imposed on the country.
The North Korean ruler Kim Jong Un demonstrated new types of missiles at military parades in October and January and expressed his intention to strengthen his country’s nuclear arsenal.
North Korea denies report
In detail, the UN experts dealt with a hacker attack in which cryptocurrencies worth the equivalent of 233 million euros were stolen in September alone. According to the UN team of experts, another attack with a theft worth the equivalent of 19 million euros took place in October.
North Korea’s hacking potential was first noticed in 2014. At the time, it was about an attack on Sony Pictures Entertainment in retaliation for the satirical film „The Interview“ in which Kim was exposed to ridicule.
Pyongyang is also suspected of stealing the equivalent of 67 million euros from the central bank of Bangladesh and around 50 million euros from the Taiwanese bank Far Eastern International in 2017. The country was also held responsible for the global blackmail cyberattack „WannaCry“ in 2017. North Korea denies all allegations about the cyberattacks.
