August 06, 2019

North Korean cryptocurrency heists net estimated $2 billion: UN report

Featuring Duyeon Kim

Source: CNN

Journalists Joshua Berlinger, Richard Roth, Yoonjung Seo

North Korea earned as much as $2 billion dollars through large-scale cyber attacks to help fund its weapons programs, a United Nations panel alleges in a new report.

The findings emerged as Pyongyang fired what are believed to be two short-range ballistic missiles early Tuesday, the fourth missile launch in less than two weeks.

The report, submitted to the UN North Korea sanctions committee, accuses North Korea of using hackers to conduct "forced illegal transfers of funds from financial institutions and cryptocurrency exchanges, launder stolen proceeds and created income to avoid international sanctions."

Investigators say those activities may help fund North Korea's nuclear weapons and ballistic missile development.

Read the full article and more on CNN.

Authors

  • Duyeon Kim

    Adjunct Senior Fellow, Asia-Pacific Security Program

    Duyeon Kim is an Adjunct Senior Fellow with the Asia-Pacific Security Program at the Center for a New American Security (CNAS). Her expertise includes the two Koreas, nuclear ...