North Korea accused of stealing $2 Billion in Cryptocurrency From Exchanges

North Korea has been accused of stealing about $2 billion by hacking banks and cryptocurrency exchanges, according to the United Nations (U.N.).

These funds were said to have been used in purchasing and funding the development of weapons

UN: Hacked crypto funds weapons of mass destruction

According to UN> North Korea is funding its weapons of mass destruction with cryptocurrency and fiat currency stolen from banks and exchanges, according to a confidential U.N. report.

A confidential report acquired by mainstream media outlets including Reuters on Aug. 5, the U.N. Security Council North Korea sanctions committee stated that hackers formed an essential part of government funding.

The U.N. report also said that targeting crypto exchanges allowed North Korea “to generate income in ways that are harder to trace and subject to less government oversight and regulation than the traditional banking sector.”
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