United Nations monitors are investigating 58 suspected North Korean cyberattacks on cryptocurrency companies that have reportedly generated $3 billion since 2017.
The funds are reportedly meant to strengthen North Korea, formally the Democratic People’s Republic of Korea (DPRK), in its alleged violation of U.N. Security Council resolutions concerning nuclear weapons development programs and severe sanctions intended to contain this behavior. In 2006, North Korea was prohibited from conducting nuclear and ballistic missile tests, as well as applying some sanctions.
However, the monitors report that North Korea continued developing nuclear weapons and fissile materials, keeping up ballistic missile launches, adding a tactical nuclear submarine, and launching a satellite into orbit. Its last known nuclear test occurred in 2017.
In addition, the monitors are probing North Korean nationals working overseas in violation of sanctions, particularly in IT, restaurants, and construction. These individuals generate income, benefiting North Korea’s government.
The report highlights that despite international sanctions, North Korea maintains access to the global financial system and engages in illegal financial activities involving crypto assets.
Also read: North Korean Hackers Target Crypto Experts with KANDYKORN
