In recent findings, an investigation by the United Nations has illuminated the extent to which North Korea has leveraged cyber activities such as crypto hacks to “bolster” its economy and further its weapons development programs.
The report spans from 2017 to 2023 and details a series of cyberattacks targeting crypto-related firms. It highlights the approach of the Democratic People’s Republic of Korea (DPRK) as it targets the nascent industry.
Crypto Loot Fuels Foreign Earnings
The UN revealed that North Korea has participated in cyber operations deemed “malicious” to secure roughly half of its foreign currency earnings, which support its weapons development initiatives.
The panel noted, citing information from “one member state”:
The malicious cyberactivities of the Democratic People’s Republic of Korea (DPRK) generate approximately 50 percent of its foreign currency income and are used to fund its weapons programs.
Particularly, with an estimated loss of
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