North Korea Hacks $2 Billion in Cyber Attacks

North Korea Hacks $2 Billion in Cyber Attacks

North Korea has stolen $2 billion dollar from cyber-attacks. The money is stolen from the country to use in their weapons making activities. 

The information comes out in a UN report. According to the secret report, Pyongyang was the target of various banks and digital currency (cryptocurrency) exchanges for theft.

According to a BBC report, the UN has investigated three cyber attacks. North Korea launched its fourth missile in less than two weeks on Tuesday. 

North Korea’s leader Kim Jong-un said in a statement on Wednesday that the missiles were being launched as a warning against US and South Korean joint military exercises earlier this month. Pyongyang claims such military trials are against the peace agreement.

The UN leaked report was sent to the Security Council committee that bans North Korea. According to the report, Pyongyang used to steal money from cyber space and financial institutions and cryptocurrency exchange funds. The UN is also investigating plans for cyber-mining activities to earn foreign currency.

The UN report also says North Korea has a special purpose in choosing cryptocurrency exchanges to steal money. 

North Korea has had the opportunity to identify such thefts as relatively difficult due to the lack of government surveillance and relaxation of laws regarding digital currencies.

The report also said North Korea illegally used ships to transfer materials used to make stolen money and destructive weapons, a clear violation of the UN sanctions. 

The UN Security Council on 25th imposed sanctions on North Korea for the export of coal, iron, textiles and seafood.

Kim Jong-un agreed to end nuclear tests at a meeting with US President Donald Trump last year. Kim also vowed not to launch intercontinental missiles. 

This year, the Trump-Kim meeting in the Vietnamese capital ended without any kind of agreement.Since then, the United States and North Korea have been discussing nuclear disarmament. Both countries, however, say they are keen to reach a diplomatic agreement on the issue.

Asked about the UN report, a US State Department spokeswoman told Reuters, “We call on responsible countries to take action against dangerous activities such as North Korea’s missile-making and illegal mass-destructive warfare through cyber activities.”

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