Home / Cryptocurrency / UN Calls Out North Korea For Stealing $2 Billion In Cryptocurrency From Exchanges

UN Calls Out North Korea For Stealing $2 Billion In Cryptocurrency From Exchanges

In a confidential report acquired by mainstream media outlets including Reuters on Aug. 5, the U.N. Security Council North Korea sanctions committee said that hackers formed an essential part of government funding.

“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,”

Reuters quoted the report as stating.

As Cointelegraph previously reported, Pyongyang regularly forms the main suspect in investigations over attacks on exchanges in nearby Asian countries.

In particular, the entity known as the Lazarus Group has become notorious for its malign activities, which have affected countries across the world.

South Korea appears to be a specific target, however, the most recent event involving a phishing email scam in which hackers masqueraded as major trading platform UpBit.

At the same time, the FBI reiterated the U.N. view that North Korea was deliberately stealing money in order to counter the effects of international sanctions, which the report now said were likely to remain due to a lack of progress in talks.

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

  • 5
    Shares

About Umme Haani

5d946d8cbd798-bpfull
Vinayak Buckshee is a writer for Thecoinrepublic. she contributes a researched piece on cryptocurrencies and updates. Umme is an aspiring engineer who immensely enjoys writing and technical writing brings the best of both worlds under one roof for her.

Check Also

Ethereum Completes Istanbul Hard Fork

Ethereum Completes Istanbul Hard Fork

This is the Ethereum network’s first hard fork since Constantinople in February. It is said …

Leave a Reply

Your email address will not be published. Required fields are marked *