North Korea stole $ 2 billion from bitcoin exchanges and banks

✨ Megiddo

✨ President ✨
Staff member
May 15, 2016
DPRK stole about $ 2 billion through cyber attacks on cryptocurrency exchanges and banks to further finance programs to create weapons of mass destruction. It is reported by Reuters with reference to a confidential report of the UN Security Council.

The report said that North Korea “used cyberspace to launch sophisticated attacks to steal funds,” and then launder them. Thus, experts recorded at least 35 attacks against financial enterprises in 17 countries.

The report said that cyber attacks on cryptocurrency exchanges allowed the DPRK to seize funds that are difficult to track. The Security Council also drew attention to the fact that the cryptocurrency industry is regulated much less than the traditional banking sector.

Note that representatives of the DPRK to the UN have not yet commented on the report.

The US Department of State called on foreign partners to take the necessary measures to counter North Korean cyber attacks.

The FBI previously caught North Korea hacking Sony Pictures Entertainment systems in 2014, robbing Bangladesh Bank in 2016, and launching the WannaCry ransomware epidemic.

In addition, in March, the UN Security Council already reported that North Korea organized attacks on large crypto exchanges in order to acquire foreign currency and thus mitigate the effects of international economic sanctions.
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