North Korea's Missile Testing Funds Comes Through Stolen Crypto: UN Report Says
United Nations Report reveals the source of funding stolen is crypto for the missile testing by North Korea.
The UN officials, in past many times had already warned that the regime of Kim Jong-Un possesses a significant cyber threat.
Highlights
- The UN officials revealed that cyberattacks are an important revenue source for its missile funding.
- UN in 2019 reported that North Korea collected about $2 billion for its weapon by using sophisticated cyber-attacks.
- The US said that North Korea has done 9 missile tests last month.
Also, Read: North Korea fires the longest-range ballistic missile since 2017
A report released by the UN officials reveals the fact that the cyberattacks by North Korea in different parts of the world had accumulated a huge amount of stolen cryptocurrency which is used as funds for the Country’s missile tests program.
As per the report, North Korea has stolen more than $50 million of digital assets between 2020 and mid2021.
On Friday, 4th February 2022, the findings were reportedly given to the UN’s sanctions committee in which it was mentioned about the illegal theft by North Korea, used as funds for illegal interest.
As per the report, it was told that such cyber-attacks are mainly aimed at the three crypto exchanges in North America, Europe, and Asia
The report published by Chinalysis suggested that North Korea Cyberattacks have embezzled about $400 million worth of Digital assets last year.
The country North Korea also has been banned by the UN to carry out any nuclear missile tests and launching ballistic missile tests. Even after the UN’s sanctions, the country can conduct such nuclear missile tests and develop its infrastructure. UN’s sanction official also has told that having imposed sanctions missile tests increased.
As per the statement released by the US, North Korea recently last month conducted 9 missile tests. The sanctions monitors said “Democratic People’s Republic of Korea (DPRK) demonstrated increased capabilities for rapid development wide mobility (including at sea), and improved resilience of its missile forces,” the sanction minister said.
China and Russia have denied signing the letter condemning North Korea for the expansion of its missile launches.
