New Delhi: North Korea smuggles millions of dollars through cyber attacks on financial institutions, cryptocurrency companies and exchanges. The UN expert cited a report by a cyber expert that said it unfairly used leverage as a major source for nuclear and missile programs. He has stolen 400 million worth of crypto assets.
Experts citing an unnamed government source said that North Korean cyber attackers stole at least 50 million rupees from cyber attacks on three cryptocurrency exchanges in North America, Europe and Asia between mid-2020 and mid-2021. Was. This reflects the diversity of cybercrime operations.
According to a cyber security report, experts said that in 2021, an unnamed cyber security firm said that North Korean cyber attackers stole Rs 400 million through seven successful cyber attacks on cryptocurrency exchanges and investment firms. To do this, it used phishing, code exploits, malware, and advanced social engineering to transfer funds from these organizations’ Internet-connected hot wallets to DPRK-controlled addresses. Now if these DPRK initials are used it becomes Democratic People’s Republic of Korea.
A panel of experts overseeing sanctions on North Korea told the UN Security Council that the money stolen by DPRK’s cyber attackers was carefully crafted to be converted into cash in a money laundering process. A year ago, the panel said North Korea had stolen a total of ₹31.64 billion in virtual assets from 2019 to November 2020.