South Korea’s National Intelligence Agency (NIS) reportedly revealed that state-sponsored North Korean hackers stole $1.2 billion worth of crypto assets in the last five and a half years and the country has been using these funds to finance its nuclear missile program.
The NIS estimates that cyber criminals stole half of this amount — roughly $626 million — in 2022 alone. Roughly $78 million of the funds were stolen from South Korea, according to the report.
The missile program
According to the NIS, the Covid-19 pandemic affected North Korea much worse than all other nations in the country since its economy had already been weakened by the United Nations (UN) sanctions. Therefore, the country turned to illicit activities like crypto hacking so that it could provide funds to support its economy as well as its nuclear program.
The conclusion was drawn due to the fact that North Korea carried out a record number of missile tests during 2022 despite its worsening economic condition.

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