North Korea based hackers have reportedly carried out another attack, stealing hundreds of millions in crypto in order to fund their regime’s ‘nuclear weapon program.’
According to blockchain intelligence company TRM Labs, almost 20% of all cryptocurrency stolen this year, equivalent to $200 millions in US Dollars, has been taken by hackers connected to North Korea between January and August 18.
The TRM Labs, in a discussion with North Korea experts, in June, stated, “In recent years, there has been a marked rise in the size and scale of cyberattacks against cryptocurrency-related businesses by North Korea. This has coincided with an apparent acceleration in the country’s nuclear and ballistic missile programs,”
In the aforementioned discussion, TRM Labs also emphasized the way there has been a shift away from North Korea’s “traditional revenue-generating activities” — a sign that the government may be “increasingly turning to cyber attacks to fund its weapons proliferation activity.”
In another comment on the issue, blockchain analytics firm Chainalysis noted in their February issue that “most experts agree the North Korean government is using these stolen assets to fund its nuclear weapons programs.”
On the other hand, CNBC’s request for a comment on the matter from the North Korean regime’s diplomatic mission to the UN – the Permanent Mission of North Korea in New York – was denied.
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