The United Nations (UN) Security Council has released a report showing North Korea earns 50% of its foreign exchange earnings from cyberattacks.
The council is also investigating involvement in cyberattacks associated with cryptocurrency companies, which reportedly caused losses of approximately $3 billion (450 billion yen).
North Korea’s Cyberattacks Target Cryptocurrency
North Korea primarily conducts cyberattacks by compromising digital wallet private keys and seed phrases, which are crucial for wallet security. These breaches result in the transfer of victims’ assets to North Korean-controlled wallets, often exchanged for USDT or Tron, which are then converted to fiat currency through large-volume OTC brokers.
Hackers associated with North Korea stole at least $600 million in cryptocurrency in 2023. If confirmed to be North Korean, further hacks in the final days of the year could increase this total to around $700 million. Despite a 30% reduction from the $850 million haul in
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