Half of North Korea’s Missile Programs Funded via Stolen Crypto: White House

According to an undisclosed White House official, North Korea funded nearly half of its missile tests through cryptocurrency theft and cyberattacks.

A recent Chainalysis report suggested that North Korean hackers misappropriated $1.7 billion in digital assets in 2022. Arguably the most notorious domestic hacking group – the Lazarus Group – is behind several exploits last year, with the $625 million hack on the network Ronin is the most famous.

North Korean hackers are still a threat

The Democratic People’s Republic of Korea is on the way to becoming a military giant over the past years and is one of the few countries in the world that possesses nuclear weapons. Its government, led by Kim Jong Un, also takes every opportunity to modernize its weapons by carrying out missile programs and various tests.

recently in the White House a statement Stolen cryptocurrency or cyberattacks fund half of these war efforts. Ann Neuberger — the deputy national security adviser for electronic and emerging technology — said the Biden cabinet is “putting a lot of time and thought” into trying to understand how “a country like (North Korea) is so innovative in this area.”

She also asserted that US intelligence agencies are trying to identify bad actors and track down the drained assets.

United Nations (UN) too claimed That the totalitarian state funded its missile programs and nuclear tests with cryptocurrency theft.

Despite all the accusations and threats from the western world, North Korea is still focused on war-related efforts. state authorities advertiser A month ago they tested the “most powerful” missile yet. Experts have warned that the new weapon will be able to strike other countries, including the United States, faster and with more devastating effect.

Kim Jong-un, who supervised the test, said the experience would make competitors “suffer with great fear and anxiety”.

left a mark last year

Stealing cryptocurrency via sophisticated hacks is a signature move adopted by North Korean cybercriminals. Blockchain data platform – Chainalisys – estimated These violators drained $1.7 billion worth of digital assets across multiple attacks in 2022.

The Lazarus Group – a notorious hacking group supposedly linked to the local government – was responsible for some of the biggest exploits last year. For example, the FBI has claimed that the organization is behind $625 million Ronin Network attack.

MistTrack compliance platform maintained Earlier this year, the Lazarus Group stole $100 million from the Harmony protocol cryptocurrency. Before that, Elliptic Enterprise proposed the same thing.