North Korea stealing millions through cyber-attacks, claim UN experts

North Korea is continuing to steal hundreds of millions of dollars from financial institutions, exchanges and crypto firms, according to UN experts.

Security Week detailed that the UN experts – quoting cyber specialists – the stolen money is an important source of funding for its nuclear and missile programs.

The panel of experts remarked that according to an unnamed government, North Korean cyber actors stole over $50m between 2020 and mid-2021 from at least three cryptocurrency exchanges in Europe, North America and Asia, reflecting a change to diversify its cybercrime operations.

It was recently revealed that North Korean cybercriminals stole close to $400m worth of digital assets across at least seven cyberattacks last year.

The panel previously quoted an unidentified country last year saying that North Korea’s total theft of virtual assets from 2019 to November 2020 is valued at around $316.4m.

The report stated that cyberattacks – particularly on cryptocurrency assets – remain a key revenue source for Kim Jong Un’s government.

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