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North Korea funds missile programs with stolen cryptocurrencies (UN report)


The United Nations (UN) accused North Korea of ​​stealing cryptocurrencies worth millions of dollars. In addition, the report added that the totalitarian Asian state used the stolen assets to fund missiles and nuclear experiments. Crypto Fuels Weapons Tests According to a recent UN report cited by Reuters, North Korean hackers carried out numerous attacks on at least three cryptocurrency exchanges between 2020 and mid-2021. The bad actors stole about $50 million in digital assets. Last month, the analytics firm – Chainalysis – went further, claiming that hackers embezzled more than $400 million in 2021. The perpetrators mainly targeted investment companies and centralized exchanges using various tactics, including malware, phishing and social engineering. Bitcoin accounted for about 20% of the stolen money, while Ether made up more than half of the total loot at 58%. The remaining 22% belonged to other altcoins and ERC-20 tokens. The UN pointed out that North Korea launched nine ballistic missile experiments in January alone, the largest number of tests in the country’s weapons history conducted in a single month. The international organization claimed that the stolen digital assets had funded those programs. The UN Security Council has repeatedly urged North Korea to stop such experiments. Despite crippling sanctions and warnings, Pyongyang has continued to develop its nuclear and ballistic missile infrastructure: “The DPRK demonstrated increased capabilities for rapid deployment, broad mobility (including at sea) and improved resilience of its missile forces.” China and Russia refused to sign the statement accusing North Korea of ​​launching missile tests. Can crypto prevent nuclear wars? The growing conflict between Russia and Ukraine and the disturbing rumors that North Korea has made progress with its missile programs are red flags that world peace may be in danger. Given recent scientific achievements and the acceleration of the arms industry, it is safe to assume that nuclear strikes could play a vital role in an eventual war. More than a year ago, however, the Center for Science and Security Studies (CSSS) argued that blockchain technology could increase trust between countries and even dismantle nuclear warheads. In particular, the backbone of the cryptocurrency industry allows authorized participants to “jointly manage encrypted data without a central authority”. This makes information transparent and creates a “technical basis for cooperation between non-trusting parties”. Simply put, the CSSS assumed that blockchain technology could reduce the risks of potential wars. SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and get $100 Free and 10% Off Fees on Binance Futures First Month (Terms and Conditions). PrimeXBT Special Offer: Use this link to register and enter POTATO50 code to get 25% off trading fees.
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