The Korea News Agency quoted a report recently released by the United Nations, stating that North Korea obtains approximately 50% of its illicit income through cyber attacks, including attacks on cryptocurrency companies. The report by the United Nations Security Council assessed 58 suspected cyber attacks on cryptocurrency-related companies from 2017 to 2023, resulting in losses equivalent to around $3 billion. The stolen funds were subsequently used by North Korea to finance weapon development, reportedly covering about 40% of the costs for large-scale, destructive weapons. The content of the latest United Nations report is consistent with the estimate made by the United States last year. According to reports, a senior official from the Biden administration also stated in June last year that about half of North Korea’s foreign exchange income comes from cyber attacks.
