North Korean Hackers Accused Of Stealing Hundreds Of Millions In Crypto To Fund Nuclear Programs

Just the News: North Korea-linked hackers have stolen at least $200 million in cryptocurrency this year, which they are using to fund the communist country’s nuclear programs, according to new research.

From January to Aug. 18, North Korea-affiliated hackers accounted for more than 20% of all stolen cryptocurrency after stealing $200 million in crypto during this time, according to TRM Labs, a blockchain intelligence firm.

🇵✴️⚠️ #hack #CryptoNews #dprk North Korean hackers allegedly stole hundreds of millions of dollars in crypto to finance nuclear programs — CNBC https://t.co/8RihOVwqb3 pic.twitter.com/k3vrjHviqH

— John Crypto (@CryptoBossJohn) September 6, 2023

Since 2018, North Korea appears to have stolen more than $2 billion in crypto through more than 30 attacks, the firm said.

North Korea is struggling under sanctions, which include bans on financial services and are aimed to limit the country’s ability to fund its nuclear activities, which have been increasing in recent years.

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💥 Is South Korea planning to confiscate #cryptocurrency from North Korean hackers? North Korean hackers have repeatedly used social engineering techniques to attack blockchain infrastructure, such as… pic.twitter.com/0lPbtGhVpS

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“They are under pretty serious economic stress with international sanctions. They need every dollar they can. And this is just obviously a much more efficient way for North Korea to make money,” TRM Labs intelligence analyst Nick Carlsen said, CNBC reported Tuesday.

South Korea is working on a law to identify and freeze cryptocurrencies stolen by North Korean hackers, who are accused of using these funds to support Pyongyang's arms and missile programs.

Source: Korea JoongAng Daily#cryptohackers #crypto pic.twitter.com/TEQhPM1XyD

— Torekko News (@torekkonews) September 6, 2023

“Even if that dollar stolen in crypto doesn’t directly go towards the purchase of some component for the nuclear program, it frees up another dollar to support the regime and its programs,” Carlsen also said.