North Korea stole $2bn from banks and cryptocurrency exchanges for weapons

Clay Curtis
August 7, 2019

However, some allegations, especially in the past few months, suggest that North Korea has hacked many financial platforms, attacking many exchanges.

Security analysts have long suspected North Korean government has been using cyber attacks to help fund itself.

"North Korea has collected money using tactics that are very hard to follow".

The report claims that numerous North Korea advanced persistent threat (APT) groups operate under the guidance of North Korea's Reconnaissance General Bureau, the top military intelligence agency of the country. The North Korean mission to the United Nations did not immediately respond to inquiries for comment.

North Korea has stolen $ 2 billion in cryptocurrencies from cryptocurrency exchanges with cyber attacks.

North Korea maintained more than 30 foreign representatives with bank accounts who facilitated transactions, including for illegal transfers of coal and petroleum, and used "complicit" foreigners to "obfuscate" these activities, the report said. It also appears to be the work of the same hacker groups that have been working under North Korea's Reconnaissance General Bureau for the last two decades.

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According to the report, the panel looked into at least 35 cases of cyberattacks in 17 countries including Chile, India, Malaysia, South Africa and South Korea.

The allegations were made in a draft of a twice-yearly report to a United Nations committee charged with enforcing sanctions on North Korea.

US president Donald Trump has met with North Korean leader Kim Jong Un several times in a bid to persuade the country to drop its nuclear weapons program.

Notably, this certainly isn't the first time we've seen reports regarding official North Korean actors engaging in cryptocurrency theft.

That North Korea commits crimes related to cryptocurrencies is something that has always been suspected.

As the report pointed out, tracing the route of the automobiles to Kim's possession may show how other, more unsafe goods like WMD components get to North Korea.

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