According to the data recently shared by an English defense thinktank, North Korea is financing its nuclear weapon production program by using the virtual currency. The measure of state-managed crypto hacking events makes the nuclear linking highly prospective.
The lead writer of the report stated that huge volumes of crypto have been observed from the Korean exchange hackers and the likelihood of additional crypto thru mining operations is a rational thing to take on that the finances are probably used to fund North Korean WMD program directly.
The report further adds that the South-East Asian region should control its emergent cryptocurrency market to repel North Korean mischievous actions in the region.
Cryptocurrency being borderless proposes a huge benefit for the North Korean regime. Crypto can be moved within and out of the country effortlessly hence dodging the economic sanctions that are imposed on the rogue state aka North Korea.
Dialogues between US President Trump and North Korean supreme leader Kim Jong-Un broke down in February due to Trump’s refusal of considering the removal of sanctions of North Korea.
A recent report by the United Nations Security Council (UNSC) has predicted that the state of North Korea holds a cryptocurrency over six hundred and seventy dollars ($670m). From which hundreds of millions of dollars have been attained via hacking.
North Korean best hacking team has been long identified by the FBI. It is accused of being responsible for the WannaCry ransomware attack in the year 2017.
The attack influenced more than 200,000 PCs. APT 38 is the team that is alleged to be the part of Lazarus. The team has been associated carry out crypto exchange hacks in South Korea and Japan.
One individual from the hacking team i.e. Park Jin Hyok is currently included in the most wanted list by the FBI owing to the charges of attempt to steal over one billion dollars ($1b) via hacking.