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North Korea hacked $3bn in crypto says leaked UN document
UN exposes North Korea’s ongoing cyberattacks and sanctions evasion, underscoring global challenges in containing its illicit activities.
Headline
UN exposes North Korea’s ongoing cyberattacks and sanctions evasion, underscoring global challenges in containing its illicit activities.
Context
Recent revelations from UN sanctions monitors allege that North Korea laundered $147.5 million through the virtual currency platform Tornado Cash, part of broader cyberattacks on cryptocurrency exchanges amounting to billions. Also read: Is Binance safe for storing cryptocurrency? An analysis
Evidence
Pending intelligence enrichment.
Analysis
The monitors told a U.N. Security Council sanctions committee in a document submitted on Friday that they had been investigating 97 suspected North Korean cyberattacks on cryptocurrency companies between 2017 and 2024, valued at some $3.6 billion. The $147.5 million stolen from HTX was traced by blockchain research firms PeckShield and Elliptic to Tornado Cash, a mixer platform that obscures the origins of digital currencies. This is part of a wider pattern that saw North Korean-linked cyberattacks targeting cryptocurrency exchanges and companies, accumulating illicit gains worth billions. Also read: Security for cryptocurrency exchanges
Key Points
- North Korea reportedly stole $147.5 million from the HTX cryptocurrency exchange late last year and laundered it through Tornado Cash in March, according to confidential UN documents.
- UN monitors have identified 97 cyberattacks by North Korea on cryptocurrency firms from 2017 to 2024, totalling approximately $3.6 billion.
- Despite ongoing international sanctions, North Korea continues to engage in illicit activities, including arms trading and coal exports, to fund its nuclear and missile programs.
Actions
Pending intelligence enrichment.
