United Nations report says that cryptocurrency theft remained an important source of income for North Korea's nuclear and ballistic missile programs last year.
Cryptocurrency theft was carried out through cyberattacks on cryptocurrency exchanges around the world. North Korean hackers stole millions of dollars worth of cryptocurrency.
In general, the report notes that more than $50 million worth of digital assets has been stolen between 2020 and mid-2021.
Moreover, according to the UN report, cyber-attacks represent the main source of income for Pyongyang's nuclear and missile program. The findings were submitted to the UN Security Council committee on sanctions against North Korea.
The UN report describes an analysis of how North Korea's cyberattacks could have raised $400 million worth of cryptocurrency last year. These attacks primarily targeted investment firms and centralized exchanges. Last year was the most fruitful for cybercriminals. According to calculations and analysis of UN data, criminals launched at least seven attacks on cryptocurrency platforms.
The UN Security Council banned North Korea from launching ballistic missiles and conducting nuclear tests.
In addition, it has tightened sanctions against North Korea since 2006 in order to limit funding for Pyongyang's nuclear and missile programs.
The report noted that North Korea's missile tests have increased over the past year. According to a US statement last week, North Korea carried out nine ballistic missile launches in January despite sanctions.
And one of the last launches of a medium-range ballistic missile took place a week ago. The most popular test site was Alsom Island, located 11 miles off the northeast coast of North Korea. Since 2019, Pyongyang has launched more than 25 missile strikes on it.
According to 2019 UN data, North Korea managed to secure about $2 billion for its nuclear and missile program despite existing sanctions pointing to state-sponsored hacking groups.
