UN released a new report claiming some alleged state-backed crypto hackers fund North Korea's missile programs.
If this is true, then the issue can lead to more malicious blockchain campaigns since it only shows that cyberattackers are now stealing cryptocurrencies for government-related purposes.
As of the moment, security experts are identifying more and more crypto hacks. Recently, the United Nations' investigators recorded more than $50 stolen cryptocurrencies.
Involved digital token thefts happened between 2020 and 2021.
UN Says Stolen Cryptos Fund NoKor's Missile Programs
According to BBC News' latest report, the latest UN report claims that the stolen cryptocurrencies play an important role in the development of Pyongyang's ballistic missile and nuclear projects.
People watch a TV at the Seoul Railway Station showing a file image of a North Korean missile launch, on September 15, 2021 in Seoul, South Korea. The unidentified type of missiles were fired from central inland areas of the North on Wednesday afternoon, and the South Korean and the U.S. intelligence authorities are analyzing details for additional information, the JCS said in a release.
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The United Nations said that one of the proof is that the Asian country can still operate its missile programs despite the sanctions against it.
"DPRK demonstrated increased capabilities for rapid deployment, wide mobility (including at sea), and improved resilience of its missile forces," said the sanction monitors.
This means that there's a sudden acceleration in the defense activities of North Korea. Right now, some U.S. special representatives are preparing to meet South Korean and Japanese officials to discuss the issue.
Crypto Thefts Allegedly Connected to North Korea
CNN Business reported that some alleged North Korea-backed hackers could steal more than $400 million worth of cryptocurrencies in 2021 alone.
Because it is a massive malicious campaign against digital currencies, security experts said it made 2021 the most lucrative year for cybercriminals targeting the blockchain industry.
Around seven crypto attacks were recorded. Most of them focus on centralized exchanges and investment firms.
In other news, the crypto exchange FTX was able to acquire its Japanese rival, Liquid, allowing it to expand in Asia further. On the other hand, India's crypto tax is expected to increase by 30%.
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Written by: Griffin Davis
