UN probes $3B North Korean cyberattacks on crypto firms: Report

Feb 09. 2024

By Ciaran Lyons

The United Nations (UN) is reportedly investigating hacking groups tied to the Democratic People’s Republic of Korea (DPRK) for orchestrating cyberattacks on cryptocurrency firms over six years, amassing profits of approximately $3 billion. 

According to a recent Reuters report, citing unpublished UN documents, an independent sanction committee is overseeing the investigation into the DPRK-linked hacking groups. 

The groups allegedly targeted 58 crypto-related firms to aid their weapon of mass destruction (WMD) development work, between 2017 and 2023.

"The panel is investigating 58 suspected DPRK cyberattacks on cryptocurrency-related companies between 2017 and 2023, valued at approximately $3 billion, which reportedly help fund DPRK's WMD development.”

The UN is reportedly expected to release a published report of its findings within the next two months.

DPRK hacking groups have faced scrutiny for the alleged crypto losses from hacks in recent times.

In 2023, Chainalysis estimated that the hacking groups stole approximately $1 billion worth of crypto from 20 hacks within the year alone. 

To read entire article…Click Here!