• According to the UN’s confidential report, North Korean hackers stole digital assets valued between $630 million and $1 billion in 2022.
• The majority of the cyber attacks were planned by organizations under the authority of North Korea’s Reconnaissance General Bureau (RGB).
• Last week, research by blockchain analytics company Chainalysis determined that North Korean hackers were responsible for at least $1.7 billion in stolen crypto assets in 2022.
North Korea Stole Millions in Crypto Assets
According to a confidential UN report, North Korean hackers stole digital assets valued between $630 million and $1 billion last year. The majority of these cyber attacks were planned by organizations under the authority of North Korea’s Reconnaissance General Bureau (RGB).
Cyber Attacks Target Government and Business Sectors
To gain access to digital networks used for cyberbanking and steal information with potential value, especially for its weapons programs, North Korea used more advanced cyber methods. These entities used malware via several channels, such as phishing, targeting workers in several countries’ governmental and commercial sector businesses.
Nuclear Program Expansion
Under Kim Jong-un’s direction, North Korea is stepping up its nuclear testing and quickening the development of atomic weapons despite its faltering economy. A UN panel is now examining allegations of weapons exports and alleged export of North Korean military communications technology. Additionally, North Korea is charged with continuing to produce nuclear fissile material in the research. The report states that they launched at least 73 ballistic missiles and rockets incorporating guiding systems, including eight intercontinental ballistic missiles.
Research from blockchain analytics company Chainalysis determined that last year was the worst ever for crypto hacking with North Korean hackers responsible for at least $1.7 billion in stolen crypto assets. This amount is almost four times higher than any other previous record for digital currency theft worldwide.
It is clear that despite economic hardship caused by sanctions against them, it appears that North Korea will continue using their advanced cyber tools to target international businesses as well as governments around world to finance their nuclear program expansion efforts.