North Korean cyber-hackers stole more than $50 million from at least three cryptocurrency exchanges in Asia, North America, and Europe, perhaps signalling a push to broaden their cybercrime activities. These intrusions used phishing traps, code hacks, malware, and complex social engineering to drain funds out of these organisations and into DPRK-controlled domains by utilising the country’s official name, the Democratic People’s Republic of Korea.

According to the reports to the United Nations Security Council by the committee of specialists reviewing sanctions on the country, the cryptocurrency money taken by DPRK cyber hackers goes through a rigorous money-laundering procedure before being cashed out. The analysts contend in the official report of the new assessment that North Korea has persisted in improving its nuclear and ballistic missile programmes. The specialists observed a significant increase in North Korean missile launches in January, utilizing a wide range of technology and weaponry. Through cyberspace and cooperative scientific collaborations, the country has actively sought material and technological expertise for these programmes from outside sources. The committee stated a year ago that North Korea had upgraded its nuclear arms and missile systems by defying UN sanctions, employing cyberattacks to help fund its projects, and continuing to seek materials and technology for its weapons elsewhere, notably in Iran. It has threatened to remove its four-year ban on more major weapons testing, like nuclear detonations and ballistic missile tests, in addition to its earlier launches.

While the humanitarian crisis in the nation remains weak, the committee stated that the country’s virtually complete lack of information makes determining the unexpected humanitarian repercussions of UN sanctions harming the civilian population impossible.

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-Adv. Sabrina Bath

(Content Writer, WCSF)

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