According to a new United Nations study, North Korea stole more bitcoin assets in 2022 than in any other year. The majority of the stolen funds were utilized to fund its ballistic missile and weapons of mass devastation programs.
According to the investigation, North Korean-linked hackers stole virtual assets worth $630 million, while its cyber currency heist totaled $1 billion.
“(North Korea) used increasingly sophisticated cyber techniques both to gain access to digital networks involved in cyber finance and to steal information of potential value, including to its weapons programs,” read the UN report.
“A higher value of cryptocurrency assets was stolen by DPRK actors in 2022 than in any previous year,” added the report which was submitted to the 15-member North Korea sanctions committee.
North Korea is regarded as a pariah state by the majority of countries throughout the world, with the dictatorial dictatorship of Kim Jong Un diverting practically all cash to missile development rather than public welfare.
However, in the absence of a substantial source of income, stealing cryptocurrencies and virtual assets has emerged as a viable option throughout the years.
FBI announced earlier this year that North Korean actors were responsible for the $100 million heist
The FBI announced earlier this year that North Korean actors were responsible for the $100 million robbery at crypto company Harmony’s Horizon bridge in June 2022.
South Korean security officials reported in December 2022 that North Korean hackers had stolen an estimated $1.2 billion in bitcoin and other virtual assets during the previous five years, with more than half of it occurring in the same calendar year.
Despite harsh restrictions imposed by numerous countries including the United Nations, North Korea’s missile program has continued unabated.
Last year, the country fired a record number of ballistic missiles, easily surpassing the four and eight missiles tested in 2020 and 2021, respectively. North Korea broke all records by firing 23 missiles in a single day.