RATE Group | North Korea cyber attacks reap almost $3b for weapons programs, UN report says
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North Korea cyber attacks reap almost $3b for weapons programs, UN report says

06 Aug North Korea cyber attacks reap almost $3b for weapons programs, UN report says

Posted at 00:18h in Cryptocurrency News by

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Posted

August 06, 2019 07:36:27

North Korean leader Kim Jong-Un smiles during a visit to the Chemical Material Institute.
Photo:
Experts monitoring Pyongyang allege that there were 35 North Korean attacks on banks and cryptocurrencies. (Reuters: KCNA)

North Korea has generated an estimated $US2 billion ($2.9 billion) for its weapons of mass destruction programs using “widespread and increasingly sophisticated” cyber attacks to steal from banks and cryptocurrency exchanges, according to a confidential United Nations (UN) report.

Key points:

  • Pyongyang is accused of attacking 35 banks and cryptocurrencies in 17 countries
  • The hermit kingdom turned to cyber currencies to launder its income to fund physical weapons
  • Since 2006, the country has faced stiff sanctions to hinder its weapons development

Independent experts monitoring Pyongyang told the UN Security Council’s North Korea sanctions committee that…

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