UN experts have published a new report that talks about the purpose of cryptocurrencies stolen during cyber attacks by hackers from North Korea. It is reported that the DPRK is actively modernizing its nuclear weapons, as well as developing new weapons at the expense of stolen crypto assets. Writes about this Associated Press.
UN experts argue that the victims of North Korean hacker groups were both cryptocurrency platforms and financial institutions working with this asset class. It is reported that from 2019 to the end of 2020, the profit of the attackers supported by the DPRK authorities amounted to $ 316 million.
Cybercriminals’ attacks were initially aimed at operators of platforms working with cryptocurrencies. Also in the UN report it is said that hackers actively attacked defense enterprises of different countries.
North Koreans launder stolen cryptocurrencies through Chinese OTC services.
The UN admits that a hacker group from the DPRK was behind the largest hack of 2020. This is the September attack on the KuCoin exchange. North Korea is reportedly attacking crypto exchanges to gain foreign exchange. Only in this way can the republic’s leadership resist Western sanctions.
The total damage from the actions of North Korean hackers is estimated at $ 2 billion. Last year, UN experts wrote that the authorities used various crypto assets worth $ 1.5 billion in trade operations to circumvent sanctions.