North Korea funding Weapons Programme through Stole Crypto

According to a report from United Nations, North Korea has continued to develop its nuclear and ballistic missile programmes for the past year by using cryptocurrency exchanges. Investigators found out that cyberattacks stole digital assets worth more than %50 million between 2020 and mid-2021 from at least three cryptocurrency exchanges in North America, Europe and Asia.

The report was submitted to the United Nations Security Council North Korea sanctions committee by independent sanctions monitors. It claims that there has been “a marked acceleration” of North Korea’s testing and demonstration of new short-range and possibly medium-range missiles in January.

The report also mentions an estimate provided by blockchain analysis company, Chainalysis. The latest Crypto Crime report of Chainalyis also states that North Korea launched at least seven attacks on cryptocurrency platforms, extorting nearly $400 million worth of digital assets in 2021.