North Korea has emerged as a formidable player in the realm of cybercrime, leveraging sophisticated hacking techniques to siphon billions of dollars from cryptocurrency exchanges and infiltrate foreign companies through fake identities, according to a comprehensive international report. The 138-page document, published by the Multilateral Sanctions Monitoring Team, reveals that these illicit activities are orchestrated by Pyongyang to finance its nuclear weapons program. The team, comprising the U.S. and 10 allied nations, was established last year to oversee North Korea’s adherence to U.N. sanctions. The report highlights how North Korean hackers have targeted global businesses and organizations with advanced malware, disrupting networks and stealing sensitive data. Additionally, the regime has utilized cryptocurrency for money laundering and military procurement, circumventing international sanctions tied to its nuclear ambitions. Despite its isolation, North Korea has invested heavily in offensive cyber capabilities, now rivaling China and Russia in sophistication. The report underscores the significant threat posed by these cyber operations, which have led to the destruction of physical equipment, loss of private assets, and funding for weapons of mass destruction. Earlier this year, North Korean hackers executed one of the largest crypto heists, stealing $1.5 billion in Ethereum. Furthermore, U.S. authorities have identified thousands of IT workers employed by American companies as North Korean operatives using fake identities to funnel salaries back to the regime. The report concludes that North Korea’s cyber activities are a critical component of its strategy to sustain its government and military programs.
North Korea has stolen billions in cryptocurrency and tech firm salaries, report says
