- The cyberattacks allegedly targeted decentralized wallets and centralized exchanges.
- UN experts are investigating 58 cyberattacks by North Korea.
According to a report by Reuters, the United Nations (UN) is delving into a series of cyberattacks attributed to North Korea, which netted the country a staggering $3 billion.
Through its sanctions monitoring team, the United Nations has unearthed a series of suspected cyberattacks conducted by North Korea, with a cumulative value of $3 billion. These attacks, targeting cryptocurrency-related companies between 2017 and 2023, were allegedly used to fund North Korea’s weapons of mass destruction program.
Despite international efforts to curb its activities, North Korea has reportedly continued to enhance its nuclear arsenal and develop ballistic missile capabilities, defying Security Council resolutions.
The UN investigation sheds light on North Korea’s sophisticated cyber warfare tactics, which have targeted cryptocurrency exchanges and companies to amass funds for its prohibited weapons programs illicitly.
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International Response Urged For Cyber Threats
While North Korea’s mission to the UN in New York remains silent on the allegations, the evidence presented by the sanctions monitors underscores the urgent need for coordinated international action to address cyber threats.
Last year, Cryptocurrency security firm Elliptic released a report uncovering the activities of the notorious North Korean hacking group Lazarus. In 15 weeks, Lazarus managed to amass a staggering $240 million through five significant cryptocurrency breaches, according to the report.
The Distributed reported that the cybercrime organization has been implicated in a series of high-profile cryptocurrency heists. Elliptic’s report detailed how the group executed coordinated attacks on various cryptocurrency platforms, resulting in the theft of millions of dollars in digital assets.
The timeline of Lazarus Group’s cryptocurrency heists reveals a systematic approach to exploiting vulnerabilities in cryptocurrency infrastructure, from targeting decentralized wallets like Atomic Wallet to compromising centralized exchanges like CoinEx.
