North Korea Accused of Stealing $2 Billion in Crypto Cyber Attacks

The United Nations (U.N.) Security Council has accused North Korea of stealing about $2 billion from banks and crypto exchanges. According to a U.N. report acquired by Reuters on August 5, stolen funds are being used to fund the country’s weapons of mass destruction programs.

The report claims that hackers and cyber criminals have become an essential part of North Korea’s government funding. Reuters quoting the report said:

Democratic People’s Republic of Korea cyber actors, many operating under the direction of the Reconnaissance General Bureau, raise money for its WMD (weapons of mass destruction) programs, with total proceeds to date estimated at up to two billion US dollars.

If this is true, then there is no arguing the fact that North Korea may have been responsible for some high-profile exchange breaches. An entity known as the Lazarus Group, a government-sponsored hacking team has become quite infamous for malign activities and cyber-attacks across the globe. In 2018, 34-year old North Korean programmer, Park Jin Hyok was arrested for several malware attacks and cyber intrusions.

The Federal Bureau of Investigation, FBI corroborates U.N,’s claims by saying that North Korea is stealing money to cushion the effects of international sanctions.

We call upon all responsible states to take action to counter North Korea’s ability to conduct malicious cyber activity, which generates revenue that supports its unlawful WMD and ballistic missile programs.