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North Korea Used Stolen Crypto to Fund Missile Program: Report
The estimate of $50 million is significantly lower than the $400 million identified by Chainalysis in a report released in January.
Updated May 11, 2023, 4:10 p.m. Published Feb 7, 2022, 2:52 p.m.
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 says, 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 last year's U.N. report.
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