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North Korea stole BILLIONS in crypto to fund weapon programs

North Korea is reportedly funding its nuclear weapons program with $2 billion stolen in crypto and fiat currencies

By Anthony Garreffa on Aug 6, 2019 10:42 pm CDT - 1 min, 9 secs reading time

Here we go again: Reuters is now reporting that a report that was researched by "independent experts" was presented to the UN Security Council North Korea sanctions committee last week, which has sold bold claims.

North Korea stole BILLIONS in crypto to fund weapon programs | TweakTown.com

The report says that North Korea used "widespread and increasingly sophisticated" hacks to secure $2 billion, laundered over the internet. These funds, according to the UN report, are being used to fund its weapons of mass destruction. Scooping up the funds this way means it's much harder for other governments and their respective spy agencies to snoop.

The experts said they are looking into "at least 35 reported instances of DPRK actors attacking financial institutions, cryptocurrency exchanges and mining activity designed to earn foreign currency" in around 17 nations around the world.

The UN report states that North Korea attacking cryptocurrency exchanges allowed them to "generate income in ways that are harder to trace and subject to less government oversight and regulation than the traditional banking sector".

Reuters reached out to a US State Department spokeswoman about the UN report, to which they responded: "We call upon all responsible states to take action to counter North Korea's ability to conduct malicious cyber activity, which generates revenue that supports its unlawful WMD and ballistic missile programs".

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Anthony Garreffa

ABOUT THE AUTHOR - Anthony Garreffa

Anthony is a long time PC enthusiast with a passion of hate for games to be built around consoles. With FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with high-end, custom-built PCs. His addiction to GPU technology is unwavering, and with next-gen NVIDIA GPUs about to launch alongside 4K 144Hz HDR G-Sync gaming monitors and BFGDs (65-inch 4K 120Hz HDR G-Sync TVs) there has never been a time to be more excited about technology.

NEWS SOURCE:cryptonewsz.com

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