North Korea Used Stolen Crypto to Fund Missile Program: Report

North Korea Used Stolen Crypto to Fund Missile Program: Report
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North Korea Used Stolen Crypto to Fund Missile Program: Report

North Korea used stolen crypto funds to help fund its missile development program, Reuters said, citing a report prepared for the United Nations.

  • “According to a member state, DPRK cyberactors stole more than $50 million between 2020 and mid-2021 from at least three cryptocurrency exchanges in North America, Europe and Asia,” the report said, using the initials of the country’s formal name, the Democratic People’s Republic of Korea.
  • The confidential report on the nuclear and ballistic missile program is prepared annually and was presented to the U.N. Security Council’s North Korea sanctions committee on Friday.
  • The estimate is significantly lower than the $400 million identified by Chainalysis in a report released January. It’s also less than the $300 million found in the year-earlier U.N. report.

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