• February 28, 2024

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North Korea Accused of Financing its Missile Program Stealing Cryptos

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Approximately 50% of North Korea‘s missile program is funded by cyberattacks and the theft of cryptocurrencies, according to White House spokeswoman Anne Neuberger, who is the Deputy Adviser for National Security, Cybersecurity and New Technologies.

US intelligence agencies have been working to identify North Korean operatives, and the Treasury Department is tracking the stolen cryptocurrency.

Neuberger has said that the presidential administration is expending a lot of energy and effort to solve the issue.

The Japanese newspaper Nikkei reported in July 2022 that North Korean hackers have stolen approximately $720 million in crypto assets from Japanese accounts since 2017, which accounts for 30% of their total stolen crypto assets on the international market.

Additionally, Vietnamese and US citizens have lost $540 million and $497 million, respectively.