The United Nations (UN) has released a report suggesting that North Korea is heavily reliant on cyber activities, including cryptocurrency theft, to generate foreign currency revenue. These illegal activities are believed to account for nearly half of the country’s foreign revenue.
The North Korean government reportedly has an army of elite hackers known as the “Lazarus Group”. These hackers specialize in cyber theft, particularly of cryptocurrencies like Bitcoin. The group is believed to have stolen hundreds of millions of dollars worth of cryptocurrencies over the years.
Their cyber activities also involve the theft of banking information, infecting devices with malware, and conducting ransomware attacks. The revenue generated from these activities is used to fund the country’s economy and military activities, which are heavily sanctioned by international authorities.
This situation highlights the serious and growing threat of cybercrime at a global level. It also underlines the challenges that countries and businesses face in securing their digital assets against sophisticated and state-sponsored cyber-attacks.
It is worth noting the UN’s report is based on investigations and allegations, North Korea often denies involvement in illegal cyber activities.
North Korea’s Cyber Activities and Crypto Theft Fuel Half of Foreign Currency Revenue: UN
The United Nations (UN) has released a report suggesting that North Korea is heavily reliant on cyber activities, including cryptocurrency theft, to generate foreign currency revenue. These illegal activities are believed to account for nearly half of the country’s foreign revenue.
The North Korean government reportedly has an army of elite hackers known as the “Lazarus Group”. These hackers specialize in cyber theft, particularly of cryptocurrencies like Bitcoin. The group is believed to have stolen hundreds of millions of dollars worth of cryptocurrencies over the years.
Their cyber activities also involve the theft of banking information, infecting devices with malware, and conducting ransomware attacks. The revenue generated from these activities is used to fund the country’s economy and military activities, which are heavily sanctioned by international authorities.
This situation highlights the serious and growing threat of cybercrime at a global level. It also underlines the challenges that countries and businesses face in securing their digital assets against sophisticated and state-sponsored cyber-attacks.
It is worth noting the UN’s report is based on investigations and allegations, North Korea often denies involvement in illegal cyber activities.
