According to a report published by the United Nations Security Council, North Korea stole over 1 billion USD in crypto assets, which helped them to boost their nuclear and missile programs. The report also indicated that North Korea might have sent military communication equipment to Russia.
North Korea stole over 1 billion USD
On Wednesday, a report released by a panel tracking the implementation of sanctions against Pyongyang calculated that the total virtual assets stolen last year were over 1 billion USD, more than double the 2021 total.
The panel released a statement stating the country used increasingly sophisticated cyber methods to gain access to digital networks involved in cyber finance and steal information of potential value, including its weapon programs. The report also urged member countries to review the anti-money laundering Financial Action Task Force guidelines to prevent digital assets from being used to buy weapons of mass destruction.
It also said that illicit digital assets are protected by both the anonymity of the blockchain and the intentional obfuscation of the passage of assets through crypto platforms. The panel also talked about the investigation of apparent exports of military communication equipment to Russia. It also stated that they have begun to look into the claims of ammunition exports there amid Moscow’s invasion of Ukraine.
The panel also mentioned that illicit coal exports and cargo imports in North Korea’s territorial waters through ships are still problematic. The report also informed that Pyongyang’s ballistic missile program had accelerated dramatically, with more than 70 launches last year, including eight intercontinental ballistic missiles.
Presence of leader Kim Jon Un’s daughter at an ICBM test
As you know, a UN Security Council report indicated North Korea stole over 1 billion USD in crypto assets. The reports also said that North Korean leader Kim Jon Un’s daughter was seen at an ICBM test last year in November, emphasising the country’s message about the essential and irreversible nature of its ICBM and nuclear programs.
Though these reports have no binding consequences, the UN Security Council and individual member countries have used them in the past years as a basis for new sanctions on specific individuals or organisations.
What are your thoughts on the latest annual report released by the UN Security Council? Should other countries do something to stop the stealing of digital assets? Let us know in the comments below. And if you found our content informative, share it with your family and friends.
Also Read: Divly reports that 99.5% of crypto investors did not pay taxes.
