UN Investigating 35 North Korean Military-Funding Cyberattacks

A more detailed U.N. report says North Korea is attacking banks via the SWIFT network, hacking crypto exchanges and cryptojacking.

AccessTimeIconAug 13, 2019 at 9:15 a.m. UTC
Updated Aug 18, 2021 at 12:43 p.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

After a U.N. report recently accused the North Korean regime of carrying out major cyberattacks of banks and crypto exchanges to fund its weapons of mass destruction programs, a longer version of the report has set out the claims in new detail.

As reported on Aug. 6, the earlier confidential U.N. report seen by Reuters – researched by “independent experts” and presented to the U.N. Security Council North Korea sanctions committee – suggests that North Korea has used “widespread and increasingly sophisticated” hacks to collect roughly $2 billion.

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • The new lengthier version of the report, seen by Associated Press, sets out that North Korea may have carried out at least 35 hacks in 17 countries and that the U.S. experts are investigating.

    The UN says that South Korea bore the brunt of the efforts, having suffered 10 attacks. The nation's Bithumb cryptocurrency exchange is said to have been hacked at least four times.

    India came next with three cyberattacks, while Bangladesh and Chile each had two attacks. Thirteen nations suffered one attack each, listed in the report as: Costa Rica, Gambia, Guatemala, Kuwait, Liberia, Malaysia, Malta, Nigeria, Poland, Slovenia, South Africa, Tunisia and Vietnam.

    The report further describes North Korea's modus operandi, saying that the nation employs three "low risk and high yield" methods to grab illicit gains.

    As well as targeting crypto exchanges and users, North Korea's hacking experts also carry out attacks through the SWIFT bank messaging network, “with bank employee computers and infrastructure accessed to send fraudulent messages and destroy evidence.”

    In one attack, the hackers managed to take over the ATM network for an entire nation and force 10,000 payments to alleged North Korean operatives.

    North Korea is also said to be mining cryptocurrency via illicit cryptojacking malware to fund a "professional branch of the military.”

    North Korea military parade image via Shutterstock

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.