Hackers Fueling North Korea’s Arsenal: UN Reveals 50% of Foreign Exchange Revenues Stem from Cyber Attacks

Hackers Fueling North Korea's Arsenal: UN Reveals 50% of Foreign Exchange Revenues Stem from Cyber Attacks

Hackers Fueling North Korea's Arsenal: UN Reveals 50% of Foreign Exchange Revenues Stem from Cyber Attacks

“Yonhap News Agency” quoted a report recently released by the United Nations, reporting that North Korea obtains approximately 50% of its illicit income through cyberattacks, including attacks on cryptocurrency companies. The report by the United Nations Security Council assessed 58 suspected cyberattacks on cryptocurrency-related companies between 2017 and 2023, resulting in losses equivalent to approximately $3 billion. The stolen funds were subsequently used by North Korea to finance weapons development, with the stolen funds reportedly covering around 40% of the costs for its large-scale weapons of mass destruction programs. The content of the latest United Nations report aligns with the estimates made by the United States last year. According to reports, a senior official from the Biden administration also stated in June of last year that approximately half of North Korea’s foreign exchange income comes from cyberattacks.