North Korea has stolen $2 billion in cryptocurrencies through hacking

According to the United Nations (UN), a confidential report received by the mainstream media, including Reuters, on August 5, the UN Security Council’s North Korea Sanctions Committee said that hackers are an important part of government funding.

Many of the cyber hackers in the Democratic People’s Republic of Korea, operating under the direction of the General Directorate of Reconnaissance, raised funds for their weapons of mass destruction (WMD) program and have netted about $2 billion through hacking banks and cryptocurrency exchanges.

In the confidential report, the UN Security Council North Korea Sanctions Committee said that hackers are an important part of government funding.

Cointelegraph said Pyongyang has become the main suspect in attacks on cryptocurrency exchanges in Asian countries.

According to statistics, from December 2015 to May this year, North Korea has launched 35 cyber attacks on financial institutions and cryptocurrency exchanges in at least 17 countries. From January 2017 to September 2018, North Korea has stolen a total of $571 million from five East Asian cryptocurrency exchanges, including Japan and South Korea.

Although this phenomenon has already received the attention of the United Nations, since the current negotiations on North Korea have been slow, it is not ruled out that there will be similar situations.

The report said that all countries responsible for the call were called to take action against North Korean hacking.

As early as September 2005, the United States imposed financial sanctions on North Korea.

Along with the occurrence of sanctions, the North Korean authorities’ interest in cryptocurrencies such as Bitcoin has risen sharply in recent years. In 2017, a monitoring website noticed that Bitcoin node activities from North Korea suddenly increased exponentially from zero to zero. Hundreds of times a day. What is certain is that North Korea launched a large-scale mining operation against Bitcoin, which until then was zero in North Korea.

It is understood that North Korea constantly embraces cryptocurrencies and steals cryptocurrencies by hacking, aiming to transfer payments and evade US surveillance. In addition, mining from bitcoin and other mining pools has become one of North Korea’s income.

Source /31QU

Text / Zhong Benyu