Half of North Korea’s Missile Programs Funded via Stolen Crypto: White House

North Korea has funded about half of its missile tests through cryptocurrency theft and cyberattacks, according to undisclosed White House officials.

A recent Chainalysis report suggested North Korean hackers embezzled $1.7 billion in digital assets in 2022. Perhaps the most notorious local hacking collective, the Lazarus Group, has carried out a number of exploits in the last year, most notably the $625 million breach of the Ronin Network. .

North Korean hackers remain a threat

The Democratic People’s Republic of Korea has been on the path to becoming a military superpower in recent years and is one of the few countries in the world to possess nuclear weapons. The Kim Jong-un-led government also uses every opportunity to conduct missile programs and various tests to improve its weapons.

White House officials recently disclosed Stolen cryptocurrencies and cyberattacks are reportedly providing half of the war funds. Ann Neuberger, the vice president’s national security adviser for cyber and emerging technologies, said the Biden administration “spent a lot of time and thought” trying to understand “how a country like this does it.” . [North Korea] I am very creative in this space. ”

He also claimed that US intelligence agencies were trying to identify the bad guys and track the leaked assets.

United Nations (UN) claimed A totalitarian state funded missile programs and nuclear tests by stealing cryptocurrencies.

Despite all the accusations and threats from the West, North Korea continues to focus on its war-related efforts.national authorities said A month ago they tested their “most powerful” missile to date. Experts warned that the new weapon could hit other countries, including the United States, faster and with more devastating effect.

Kim Jong Un, who oversaw the experiment, said it would expose rivals to “extreme fear and anxiety”.

left a track record last year

Stealing cryptocurrencies via sophisticated hacking is a typical method employed by North Korean cybercriminals. Blockchain data platform – Chainalisys – Estimate In 2022, such bad guys exfiltrated $1.7 billion worth of digital assets in multiple attacks.

The Lazarus Group – a notorious hacker group with ties to local governments – was involved in some of the biggest exploits last year. For example, the FBI claimed that the organization was behind a massive $625 million. Ronin network attack.

Compliance Platform MistTrack maintained Earlier this year, it was revealed that Lazarus Group stole $100 million from cryptocurrency protocol Harmony. Before that, Elliptic Enterprise also suggested the same thing.