Home Cryptocurrency UN: Stolen Bitcoin Supported Missile Development Of North Korea

UN: Stolen Bitcoin Supported Missile Development Of North Korea

According to a UN assessment, North Korea’s missile development is supported by stolen bitcoin. According to a UN study given to the media, North Korean computer hackers have stolen huge amounts of money in bitcoin to support the country’s missile programs. According to authorities, reports BBC, cybercriminals stole more than $50 million (£37 million) in digital assets between 2020 and 2021.

Crypto Cyberattack Profits Are Used To Develop Missiles In North Korea Says UN Report.jpeg

According to them, such strikes constitute a “significant money source” for Pyongyang’s weapons and missile defense programs. On Friday, the results were presented to the UN’s penalties committee. At least three bitcoin exchanges in the United States, Italy, and Eurasia were targeted in the cyber-attacks. The newspaper also cited research released recently by the security company Chainalysis, which claimed that North Korean hacks garnered up to $400 million in digital content last year.

In 2019, the United Nations assessed that North Korea has amassed an estimated $2 billion for its WMD programs through sophisticated cyber-attacks. The UN Security Council has prohibited North Korea from conducting nuclear tests or launching ballistic missiles.

According to the UN assessment, North Korea has indeed been able to keep expanding its atomic and missile defense facilities despite the punishing restrictions. This has continued to look for materials, technology, and know-how from other countries, notably through cyber methods and collaborative scientific study.

Pyongyang’s missile testing has “markedly accelerated,” according to sanctions monitors. According to the US, North Korea, known colloquially as the Democrat Communist party Of Kampuchea (DPRK), conducted nine missile tests in the previous month.

China and Russia declined to sign a statement criticizing the profusion of North Korean missile launches on Friday. However, the US stated that its special coordinator for North Korea would meet with officials from Japan and South Korea early this week to address the situation.

The UN assessment also stated that North Korea’s humanitarian condition was deteriorating. According to the report, this was most likely due to the country’s choice to seal its borders during the epidemic. It stated it was difficult to evaluate how much hardship was inflicted by sanctions imposed due to a lack of data from North Korea.


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