According to the report of the UN security Council, North Korea launched attacks on major crypto currency exchange to get foreign currency and thus mitigate the effects of international economic sanctions. It is reported Nikkei Asian Review.
Sanctions to counter nuclear and missile programs of DPRK has adversely affected export coal and, therefore, reduced foreign exchange earnings to the country.
According to experts, obtained by the hackers cryptocurrencies provide the North Korean ruling regime “more opportunities to circumvent sanctions.” Also, the authors of the report believe that digital assets can launder funds and that such coins are not subject to state regulation.
Researchers estimate, for the period from January 2017 to September 2018 hackers at least five times successfully attacked the Asian stock exchange. The loss of the cryptocurrency platforms are estimated at $571 million.
Experts recommended the States members of the United Nations more effective “to share information about cyber attacks from North Korea with other governments and financial institutions” to identify and prevent such actions.
Previously specializing in cyber security company Group-IB announced that in 2017 and the first 9 months of 2018 hacked 14 of cryptocurrency exchanges and caused damage for $882 million.