UN report: North Korea gets money for weapon projects from cyberattacks

Posted 06 August, 2019

The United Nations Organization discovered that North Korea was involved in hack attacks on crypto trading platforms and banks worldwide. 

The mainstream media reported reported citing the UN security confidential report that Pyongyang got about $2 billion from such actions, while the funds were used for financing development of mass destruction projects.

According to the available information, UN experts detected about 35 attacks on financial entities in 17 countries.

The UN Security Council highlighted that North Korea benefited from cryptocurrencies since funds stolen from crypto exchanges hardly can be tracked. As a result, it was noted once again that the crypto sector still has bad and insufficient regulation compared to the traditional banking industry.

The US State Department called on the foreign colleagues to take countermeasures against Pyongyang's cyber attacks.

Notable, spokesperson of North Korea is yet to comment on the UN report.

It should be mentioned that the US Security Council in March said that it traced the trail of attacks on large cryptocurrency trading platforms to North Korea. That attacks were connected with

Korea's attempts to get foreign currency to offset the impact of international economic sanctions.

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