North Korea has Stolen Crypto

The cyber attackers of North Korea have stolen crypto. They managed to use millions of
dollars’ worth of digital assets to fund missile programs located in
Pyongyang. A UN report said the following “According to a member state, DPRK cyber-actors stole more than $50 million between 2020 and mid-
2021 from at least three cryptocurrency exchanges in North America,
Europe, and Asia.”
According to Reuters, a report was sent out to the UN this past
Friday. The report banned nuclear tests and the launch of missiles in the
Peoples Republic of North Korea or DPRK. BBC also reported that cyber-
attacks that are done on crypto exchanges seem to be a source of income
for their nuclear missile program.
North Korea has a total of 7,000 hackers that have stolen crypto and invaded
the critical infrastructure of countries. The rate of cyber-attacks in North
Korea alone has risen significantly in 2020 and 2021 and right along with
that, the value of proceeds has grown by approximately 40%. The
proceeds consisted of about 60% Ethereum from the $400 Million total of
crypto that was stolen last year and 20% Bitcoin; according to a study
published by Chainalysis.
Even though UN sanctions targeting finance have been in place
since 2006, Pyongyang has continued to expand its nuclear and ballistic
missile programs. In 2019 North Korea gathered close to $2 billion crypto for its
weapons all due to its widespread cyberattacks. The UN Security Council
has prohibited North Korea, officially the People’s Republic of North Korea,
DPRK, from conducting nuclear testing or launching ballistic missiles.

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