The rogue nation of North Korea stole more cryptocurrency assets in 2022 than any other year, a recent report by United Nations has revealed. Most of the money stolen was used to support its ballistic missile and weapons of mass destruction programmes.

The rogue nation of North Korea stole more cryptocurrency assets in 2022 than any other year, a recent report by United Nations has revealed. Most of the money stolen was used to support its ballistic missile and weapons of mass destruction programmes. The report asserted North Korea-linked hackers stole virtual assets worth $630 million while its cyber currency heist stood at a whopping $1 billion. "(North Korea) used increasingly sophisticated cyber techniques both to gain access to digital networks involved in cyber finance and to steal information of potential value, including to its weapons programmes," read the UN report. "A higher value of cryptocurrency assets was stolen by DPRK actors in 2022 than in any previous year," added the report which was submitted to the 15-member North Korea sanctions committee. Gravitas Plus: How does North Korea finance its missile tests? × Ostracised by most countries across the globe, North Korea is a pariah state where the authoritarian regime of Kim Jong Un uses almost all the revenue for its missile programmes instead of public welfare. However, with no major avenue available to bring in the money, stealing cryptocurrency and virtual assets has emerged as a promising option over the years. Earlier this year, the Federal Bureau of Investigation (FBI) informed that North Korean actors were behind the $100 million heist at crypto firm Harmony's Horizon bridge that took place in June 2022. Read more: North Korea behind crypto heist that happened in June last year: FBI In December 2022, South Korean intelligence agencies said North Korean hackers had stolen an estimated $1.2 billion in bitcoin and other virtual assets over the previous five years, with more than half of it happening in the said calendar year. Despite the hefty sanctions imposed by several countries as well as the UN, North Korea's missile programme has continued unabated. Last year, the country fired a record number of ballistic missiles, comfortably overtaking its combined tally of four and eight missiles tested in 2020 and 2021 respectively. N Korea broke all records when it fired as many as 23 missiles in a single day. (With inputs from agencies) WATCH WION LIVE HERE:

North Korea stole record crypto assets and currencies in 2022: UN report

Bitcoin-powered to a record high just below $11,800 on Sunday, continuing its surge from below $1,000 at the start of the year.

The cryptocurrency, which trades 24 hours a day and seven days a week, climbed as high as $11,799.99 on the Luxembourg-based Bitstamp exchange at around 2100 GMT on Sunday.

It was not clear what caused the move higher over the weekend other than new investors joining the upstart market, with so-called wallet-providers reporting record numbers of sign-ups over the past week.

Analysts said Friday&#39;s announcement by the main U.S. derivatives regulator that it would allow CME Group Inc and CBOE Global Markets to list bitcoin futures contracts had turned sentiment positive after a choppy week.

&quot;The price rises are triggered by continued media interest driven by the expectation of futures trading on CME,&quot; Charles Hayter, founder of data analysis website Cryptocompare, said.

By 1230 GMT on Monday, bitcoin had slipped back to around $11,250, still up more than 100 percent over the past three weeks. Sunday&#39;s high marked a 1,121 percent increase since the start of the year.

Think Markets analyst Naeem Aslam said reports Britain wants to increase regulation of bitcoin and other digital currencies by expanding the reach of European Union anti-money-laundering rules that force traders to disclose their identities and report suspicious activity, had knocked bitcoin off its highs.

But others said greater regulatory scrutiny would help.

&quot;If anything, regulation will only increase bitcoin&#39;s rate of growth as regulation lends credibility and engenders trust,&quot; Nicholas Gregory, CEO of London-based cryptocurrency firm commerce block, said.

Sunday&#39;s record high for bitcoin came as Venezuelan President Nicolas Maduro announced the launch of the &quot;petro&quot;, which he said would be a cryptocurrency backed by oil reserves, to shore up a collapsed economy.

Opposition leaders said the digital currency would need congressional approval and some cast doubt on whether it would ever see the light of day in the midst of turmoil.

&nbsp;

The cryptocurrency, which trades 24 hours a day and seven days a week, climbed as high as $11,799.99 on the Luxembourg-based Bitstamp exchange at around 2100 GMT on Sunday

Bitcoin-powered to a record high just below $11,800 on Sunday, continuing its surge from below $1,000 at the start of the year. The cryptocurrency, which trades 24 hours a day and seven days a week, climbed as high as $11,799.99 on the Luxembourg-based Bitstamp exchange at around 2100 GMT on Sunday. It was not clear what caused the move higher over the weekend other than new investors joining the upstart market, with so-called wallet-providers reporting record numbers of sign-ups over the past week. Analysts said Friday's announcement by the main U.S. derivatives regulator that it would allow CME Group Inc and CBOE Global Markets to list bitcoin futures contracts had turned sentiment positive after a choppy week. "The price rises are triggered by continued media interest driven by the expectation of futures trading on CME," Charles Hayter, founder of data analysis website Cryptocompare, said. By 1230 GMT on Monday, bitcoin had slipped back to around $11,250, still up more than 100 percent over the past three weeks. Sunday's high marked a 1,121 percent increase since the start of the year. Think Markets analyst Naeem Aslam said reports Britain wants to increase regulation of bitcoin and other digital currencies by expanding the reach of European Union anti-money-laundering rules that force traders to disclose their identities and report suspicious activity, had knocked bitcoin off its highs. But others said greater regulatory scrutiny would help. "If anything, regulation will only increase bitcoin's rate of growth as regulation lends credibility and engenders trust," Nicholas Gregory, CEO of London-based cryptocurrency firm commerce block, said. Sunday's record high for bitcoin came as Venezuelan President Nicolas Maduro announced the launch of the "petro", which he said would be a cryptocurrency backed by oil reserves, to shore up a collapsed economy. Opposition leaders said the digital currency would need congressional approval and some cast doubt on whether it would ever see the light of day in the midst of turmoil.

Bitcoin hits record high of nearly $11,800 after futures lift

virtual-money

Virtual Money, News on Virtual Money, stories on Virtual Money, articles on Virtual Money, Virtual Money stories at Wion, Virtual Money news, Virtual Money latest news

virtual money

North Korea stole record crypto assets and currencies in 2022: UN report

Bitcoin hits record high of nearly $11,800 after futures lift