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| North Korea continues to steal cryptocurrency |
As North Korea has continued to ramp up its nuclear and ballistic missile programs over the past year, cyber attacks on cryptocurrency platforms have been a major source of Pyongyang's revenue, according to excerpts from a classified United Nations report.
The annual report of the Independent Sanctions Monitor has been submitted to the United Nations Security Council's North Korea Sanctions Committee.
Experts wrote that despite the lack of reports of nuclear tests or ICBM launches, South Korea continues to develop capabilities to produce nuclear fissile material.
The official name of North Korea is the Democratic People's Republic of Korea. The UN Security Council has long banned him from conducting nuclear tests and launching ballistic missiles.
According to the report, maintenance and development of South Korea's nuclear and missile infrastructure will continue. South Korea continues to search abroad for materials, technology, and knowledge for these projects, including through electronic means and joint scientific research.
North Korea has been under UN sanctions since 2006, and the Security Council has tightened these sanctions over the years to fund Pyongyang's nuclear and missile programs.
Sanctions watchers have noticed a significant acceleration in missile testing in Pyongyang.
The United States and other countries said North Korea fired nine ballistic missiles in January, adding that it was the largest in one month in the history of the country's weapons of mass destruction and missile programs.
The sanctions observer said, "South Korea has demonstrated improved rapid deployment capabilities, greater mobility and enhanced flexibility for its missile forces.
Cyber attacks on cryptocurrency platforms
Observers say that cyber attacks, especially on crypto assets, remain a major source of North Korea's revenue.
Monitors have received reports that North Korean hackers continue to target financial institutions, cryptocurrency companies, and exchanges.
According to one member country, South Korean e-merchants stole more than $50 million from at least three cryptocurrency exchanges in North America, Europe and Asia between 2020 and mid-2021.
The observers also cited a report last month by cybersecurity firm Chainalysis. According to the report, North Korea has carried out at least seven attacks on cryptocurrency platforms. Almost $400 million worth of digital assets were stolen last year.
The United Nations Sanctions Monitor reported in 2019 that South Korea earned about $2 billion for its weapons of mass destruction program. This happens through massive and increasingly sophisticated cyber attacks.