North Korean Hackers Keep Hacking the Crypto Space, Reuters Reports

North Korean Hackers Keep Hacking the Crypto Space, Reuters Reports

Time Stamp: August 13, 2023 9:17 AM
Source Node: 2821021
August 13, 2023 at 05:17 PM GST 2 mins read News
  1. North Korean hackers are still targeting the crypto sector to fund its nuclear and weaponry initiatives.
  2. The source is a UN report set to be published soon, although Reuters already got a copy of it.
  3. North Korea has been subject to UN sanctions since 2006 due to its nuclear pursuits.

Independent sanctions monitors have exposed that hackers affiliated with North Korea have sustained their assault on companies within the cryptocurrency domain throughout this year. 

The disconcerting findings further underscore Pyongyang’s unwavering commitment to advancing its nuclear and weaponry initiatives. These revelations are set to be unveiled in an upcoming United Nations report slated for release in the imminent weeks.

Although the document remains unreleased to the public, Reuters has gained early access to its contents.

The report’s authors, independent sanctions monitors who submit biannual reports to the United Nations, have also ascertained that the Democratic People’s Republic of Korea (DPRK) has consistently circumvented the sanctions devised to curtail financial support for its nuclear and ballistic missile projects.

Previous accusations have implicated North Korea in cyberattacks to acquire funds for these programs. The year 2022 witnessed a staggering milestone as hackers purportedly affiliated with the Pyongyang regime purportedly pilfered an estimated $1.7 billion. 

In the most recent report, the monitors highlighted that these hackers, believed to operate under North Korea’s primary foreign intelligence agency, the Reconnaissance General Bureau (RGB), have escalated their use of sophisticated cyber techniques to extract funds and sensitive data.

The report’s executive summary emphasizes the targeted sectors, including cryptocurrency, defense, energy, and health industries. It states that the DPRK persists in accessing the global financial system while engaging in unlawful financial activities.

North Korea has been subject to UN sanctions since 2006 due to its nuclear and weapons pursuits. Despite previous instances of unanimous reinforcement, the Security Council is presently gridlocked. China and Russia advocate for alleviating measures, aiming to encourage the DPRK to reenter negotiations focused on denuclearization.

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