North Korea funding nuke, missile programmes through cyberattacks’ proceeds, say UN experts

WION Web Team
Seoul Updated: Feb 06, 2022, 03:39 PM(IST)

Representative image. Photograph:( Reuters )

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At least seven attacks were carried out on cryptocurrency platforms by North Korea. It helped it extract nearly $400 million worth of digital assets in 2021, it added. The North also kept developing its nuclear and ballistic missile capabilities, the annual report of the UN said

If you are wondering how North Korea is able to fund its nuclear and missile programmes at a time when it is facing several issues due to sanctions, the answer seems to be significant profits from cyberattacks, UN experts said in a new report. 

The country was able to continue to advance its nuclear and missile programmes last year in violation of UN Security Council resolutions with the help of this money, the panel of experts said.  

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"According to a member state, DPRK cyberactors stole more than $50 million between 2020 and mid-2021 from at least three cryptocurrency exchanges in North America, Europe and Asia," a report by Yonhap News Agency quoted the confidential report by the UN experts, who are monitoring the implementation of sanctions on Pyongyang.  

DPRK is the acronym for the official name of North Korea, Democratic People's Republic of Korea.  

At least seven attacks were carried out on cryptocurrency platforms by North Korea. It helped it extract nearly $400 million worth of digital assets in 2021, it added.  

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The North also kept developing its nuclear and ballistic missile capabilities, the annual report of the UN said.  

"Although no nuclear tests or launches of ICBMs (intercontinental ballistic missiles) were reported, DPRK continued to develop its capability for production of nuclear fissile materials," the report, which has been submitted to the UN Security Council North Korea sanctions committee, stated.  

North Korea also demonstrated "increased capabilities for rapid deployment, wide mobility (including at sea), and improved resilience of its missile forces,” it said.   

(With inputs from agencies) 

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