• The United Nations has released a report claiming that North Korea stole more cryptocurrency in 2022 than any other year.
• The report states that North Korea used sophisticated cyber techniques to gain access to digital networks and steal valuable information, including for its weapons programs.
• Estimates of the value of cryptocurrency stolen by North Korean actors range from $630 million to $1 billion.
North Korea Steals Crypto
The United Nations recently released a report indicating that North Korea stole more cryptocurrency in 2022 than any other year. By using increasingly sophisticated cyber techniques, hackers from within the country have had success accessing digital networks and stealing information of potential value, including for its weapons programs. Estimates of the value of cryptocurrency stolen range from $630 million to more than $1 billion.
The report also detailed some of the techniques used by North Korean hackers to gain access and steal valuable information. Initial contacts with targets were made via LinkedIn, after which malicious payloads were delivered through continued communications over WhatsApp. Small and medium-sized companies were specifically targeted by these attacks.
Tornado Mixer Sanctioned
Last September, a mixer called Tornado was sanctioned by the U.S., as it was allegedly being used in many of North Korea’s schemes. It is believed that this mixer was instrumental in allowing North Korea to launder funds so they could be used for their nuclear program without detection or consequence.
In response to these revelations, many countries around the world are increasing their cybersecurity measures and working together to combat these types of attacks conducted by nation-states. The United Nations is also urging all nations to support one another in this endeavor and work towards deterring future instances of cybercrime committed by nation-states such as North Korea.
The United Nations has uncovered evidence that suggests North Korea successfully stole an unprecedented amount of cryptocurrency in 2022 through highly sophisticated hacking techniques aimed at small and medium businesses across the globe. As international organizations combat this threat, it remains clear that countries must remain vigilant against future attempts at cyberattacks conducted by nation-states like North Korea