UN Report on North Korea Crypto Theft

February 7, 2023

The United Nations released a confidential report on North Korea. Confidential means it is not for public viewing and will not be put on the UN website. According to the report, North Korea is stealing cryptocurrencies. The country is using the stolen currency to fund its defence companies. With tremendous technological developments, North Korea created sophisticated cyber techniques. Using these techniques, the country is hacking digital networks that are in the cyber finance industry.

About the Report

The report was created by United Nations Security Council
The funds stolen are used in nuclear and missile programs
The report was submitted to the North Korea Sanctions Committee. There are 15 members on the committee
The report says that in 2022, North Korean official hackers have stolen 630 million USD. But it is believed that the stolen money is even more. A private cyber crime agency states that North Korea stole more than 1 billion USD worth of crypto assets!
Day by day the techniques used by North Korean official hackers are becoming sophisticated

Why is North Korea stealing?

The strict UN sanctions are forcing the country to steal crypto and fund its nuclear program. North Korea cannot acquire nuclear fuel from foreign countries. Following UN sanctions, the EU, China, Japan, Russia, USA, Australia, and several other countries banned several imports and exports from North Korea. Therefore, the country is lacking funds for its nuclear program and is implementing sanctions.

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