📰 Table Of Contents
- 1 North Korea’s Involvement in Cyber Activities and Crypto Theft
- 1.1 UN Findings on North Korea’s Cyber Activities
- 1.2 UN Investigation on Cyberattacks and Crypto Theft
- 1.3 Impact of North Korea’s Cyber Theft Operations
- 1.4 North Korea’s Nuclear and Missile Programs
- 1.5 Advancements in Ballistic Missile Capabilities
- 1.6 North Korean Involvement in Crypto Theft
- 1.7 Previous Incidents of Crypto Theft
North Korea’s Involvement in Cyber Activities and Crypto Theft
In recent developments, the United Nations has raised concerns about North Korea’s engagement in “malicious” cyber activities and cryptocurrency theft, playing a significant role in its foreign currency revenue and the funding of its weapons programs.
UN Findings on North Korea’s Cyber Activities
A recent report by a United Nations panel of experts reveals that Pyongyang utilizes cyber means to generate approximately 50% of its foreign currency income, with a member state disclosing this information.
The panel’s findings suggest that 40% of North Korea’s weapons of mass destruction programs are financed through illicit cyber activities.
UN Investigation on Cyberattacks and Crypto Theft
The UN panel’s investigation focuses on cyberattacks associated with cryptocurrency-related companies, dating back to 2017.
During this period, North Korea is suspected of being involved in 58 attacks, totaling an estimated value of around $3 billion.
Impact of North Korea’s Cyber Theft Operations
The report highlights 17 cryptocurrency heists in 2023 alone, attributed to North Korea, resulting in over $750 million in stolen funds.
Furthermore, the panel scrutinized a total of 58 suspected cyberattacks on crypto-linked firms between 2017 and 2023, showcasing the significant impact of North Korea’s cyber theft operations.
North Korea’s Nuclear and Missile Programs
Despite UN Security Council resolutions, North Korea has continued to advance its nuclear and missile programs, engaging in illicit cyber activities.
The country’s development of nuclear weapons and production of nuclear fissile materials have raised concerns, with observations indicating potential advancements in nuclear capabilities.
Advancements in Ballistic Missile Capabilities
North Korea’s persistent violations of UN resolutions include advancements in ballistic missile capabilities, such as missile launches and testing of satellite launchers.
The panel’s assessment suggests progress in various aspects of North Korea’s missile program, including reliability, maneuverability, precision, and mobile launcher manufacturing.
North Korean Involvement in Crypto Theft
In 2022, cybercriminals stole a record $3.8 billion in the crypto realm, with North Korean government hackers, specifically the Lazarus Group, responsible for $1.7 billion of the total.
These activities were aimed at funding North Korea’s nuclear weapons program, violating international sanctions.
Previous Incidents of Crypto Theft
In 2021, hackers managed to seize $3.3 billion in digital assets, as reported by Chainalysis, indicating a concerning trend in cyber theft.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
