• UGI USER
  • Feb 10, 2023
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UN Report on North Korea Crypto Theft

News: An unnamed report from the UN was made public regarding North Korea. It will not be posted on the UN website and is considered confidential. The study claims that North Korea is taking digital currency. The nation is funding its defence businesses with the money that was stolen. North Korea developed powerful cyber methods as a result of significant technological advancements. The nation is hacking digital networks used in the cyber finance sector using these methods.

  • The United Nations Security Council drafted the report.
  • The money taken is used for nuclear and missile development.
  • The North Korea Sanctions Committee received a copy of the report. The committee is composed of fifteen people.
  • According to the estimate, 630 million USD were taken by official North Korean hackers in 2022. But additional money has allegedly been stolen, according to estimates. According to a private cybercrime outfit, North Korea stole cryptocurrency assets worth more than $1 billion USD!
  • The methods utilised by North Korean government hackers are growing more advanced daily.
  • The government must steal cryptocurrency to support its nuclear development because of the severe UN sanctions. Foreign nations are unable to provide nuclear fuel to North Korea. Following UN sanctions, a number of imports and exports from North Korea were prohibited by the EU, China, Japan, Russia, USA, Australia, and several other nations. As a result, the nation is enforcing sanctions and is short on cash for its nuclear programme.