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North Korea stolen crypto currencies for Nuclear programme


Surprise and shock to hear the news but it is true. North Korea is one of the North East Asian nations and shared land border with South Korea, China and Russia. But the country didn’t have good relations with its neighbors and other countries as well. 

United Nations put severe restrictions on North Korea for conducting nuclear programme in 2006. No one knows what happened inside the country. Dictatorship prevails in the country and on media also under Kim Jong-Un leadership. In 2020, North Korea has modernized its nuclear and ballistic missile programme and violated the international sanctions.


Where the money is coming from to North Korea? United Nations gave very interesting answer to this question. Experts said that North Korea has stolen more than $300 million worth of crypto currencies (Digital Currency) through cyber-attacks. Korea used the stolen money to invest on banned nuclear and ballistic missile development programmes. As per United Nations report, the country’s total theft assets value from 2019 to 2020 at approximately $316.4 million. The hackers in the country broke into financial institutions and stock exchanges for getting money for missile development. North Korea is known to operate thousands of well-trained hackers for financial gain.


South Korea is the main victim for North Korean hackers for attacking firms, institutions and researchers. While the report did not name the victim of the attack, digital currency exchange KuCoin reported the theft of $281 million in Bitcoin and various other tokens on Sept. 25. In the past year, North Korea displayed new short-range, medium-range, submarine-launched and intercontinental ballistic missile systems at military parades. North Korea recently displayed its new "Pukkuksong-5" submarine-launched ballistic missile for the first time. North Korea's UN mission in New York did not immediately respond to a request for comment on the report.

 

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