{"id":214273,"date":"2022-02-07T19:30:02","date_gmt":"2022-02-07T19:30:02","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=214273"},"modified":"2022-02-07T19:17:16","modified_gmt":"2022-02-07T19:17:16","slug":"report-north-korea-funded-missile-program-using-stolen-crypto","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/report-north-korea-funded-missile-program-using-stolen-crypto\/","title":{"rendered":"Report: North Korea funded missile program using stolen crypto"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">A report submitted to the U.N. Security Council <\/span><a href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/exclusive-nkorea-grows-nuclear-missiles-programs-profits-cyberattacks-un-report-2022-02-05\/\"><span style=\"font-weight: 400;\">shows<\/span><\/a><span style=\"font-weight: 400;\"> that North Korean cyber actors have stolen millions of dollars from crypto exchanges.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The report stated that funds gotten from these cyberattacks form an important revenue source that the country uses to finance its nuclear and ballistic missile programs.<\/span><\/p>\n<h2><b>North Korea\u2019s cyberattacks used to finance nuclear weapons<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">According to the report, these bad actors have stolen over $50 million from 2020 to mid-2021.\u00a0<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">&#8220;According to a member state, DPRK cyber actors stole more than US$50 million between 2020 and mid-2021 from at least three cryptocurrency exchanges in North America, Europe, and Asia.&#8221;<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">This gives credence to a recent <a href=\"https:\/\/cryptoslate.com\/north-korean-hackers-are-sitting-on-170-million-worth-of-unlaundered-crypto\">report<\/a> by Chainalysis, a crypto analytic firm, who stated that North Korean-sponsored hackers stole around $400 million in cryptocurrencies from several cyber attacks last year. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the report, Chainalysis said that these stolen funds are laundered and cashed out by the North Korean government.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The\u00a0 U.N. report noted that proceeds from the attacks have allowed the country to meet the material and technological needs of its nuclear and ballistic missiles mission.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> It is estimated that the Asian country has made around $2 billion from its increasingly sophisticated cyberattacks.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It should be noted that the U.N. security council banned North Korea from carrying out its nuclear tests and launching missile infrastructure. However, available information would show that the country has continued to pursue its ability to produce nuclear fissile materials.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This January alone, it launched nine ballistic missiles, the largest in a single month in its history.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Notably, the UN Security Council had imposed a ban on North Korean exports in its bid to tame the country\u2019s finances which has made the authorities resort to crypto cyber attacks.<\/span><\/p>\n<h2><b>The growing need for crypto regulations<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">While cybercriminals in North Korea appear to enjoy the support of their government, other governments around the world have become increasingly concerned about the growth of cybercrimes and crypto crimes which has led to calls for regulation of the space.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the United States, for example, President Biden's administration has labeled the issue of cybercrime as one of the challenges facing the crypto industry.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Other governments like <a href=\"https:\/\/cryptoslate.com\/russias-central-bank-releases-a-damning-report-proposing-a-blanket-ban-on-crypto\">Russia<\/a>, <a href=\"https:\/\/cryptoslate.com\/why-is-singapore-rejecting-the-majority-of-crypto-licensing-applications\">Singapore<\/a>, etc., have also made strategic efforts to limit the growing influence of crypto within their jurisdiction.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Regulators have also demanded that crypto exchanges improve on their Know-your-Customer policies and Anti-money laundering tools to ensure that bad actors do not take advantage of the unregulated space.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A report submitted to the U.N. Security Council shows that North Korean cyber actors have stolen millions of dollars from crypto exchanges.\u00a0 The report stated that funds gotten from these cyberattacks form an important revenue source that the country uses to finance its nuclear and ballistic missile programs. North Korea\u2019s cyberattacks used to finance nuclear [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":214326,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[76799],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Report: North Korea funded missile program using stolen crypto<\/title>\n<meta name=\"description\" content=\"North Korea has been funding its thirst for nuclear weapons through cyberattacking crypto exchanges where it made over $50 million.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/report-north-korea-funded-missile-program-using-stolen-crypto\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Report: North Korea funded missile program using stolen crypto\" \/>\n<meta property=\"og:description\" content=\"North Korea has been funding its thirst for nuclear weapons through cyberattacking crypto exchanges where it made over $50 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/report-north-korea-funded-missile-program-using-stolen-crypto\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-07T19:30:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-02-07T19:17:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/02\/north-korea-crypto.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/report-north-korea-funded-missile-program-using-stolen-crypto\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/report-north-korea-funded-missile-program-using-stolen-crypto\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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