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Record-breaking 2022 for North Korea crypto theft: UN report

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UNITED NATIONS: North Korea stole more cryptocurrency assets in 2022 than in any other year and targeted the networks of foreign aerospace and defence companies, according to a currently confidential United Nations report seen by Reuters on Monday (Feb 6)."(North Korea) used increasingly sophisticated cyber techniques both to gain access to digital networks involved in cyber finance, and to steal information of potential value, including to its weapons programmes," independent sanctions monitors reported to a UN Security Council committee.The monitors have previously accused North Korea of using cyber attacks to help fund its nuclear and missile programmes."A higher value of cryptocurrency assets was stolen by DPRK actors in 2022 than in any previous year," the monitors wrote in their report - submitted to the 15-member council's North Korea sanctions committee on Friday - citing information from UN member states and cybersecurity firms.North Korea has previously denied allegations of hacking or other cyberattacks.The sanctions monitors said South Korea estimated that North Korean-linked hackers stole virtual assets worth US$630 million in 2022, while a cybersecurity firm assessed that North Korean cybercrime yielded cybercurrencies worth more than US$1 billion."The variation in USD value of cryptocurrency in recent months is likely to have affected these estimates, but both show that 2022 was a record-breaking year for DPRK (North Korea) virtual asset theft," the UN report said.A United States-based blockchain analytics firm last week reached the same conclusion.The UN report noted: "The techniques used by cyberthreat actors have become more sophisticated, thus making tracking stolen funds more difficult."The report is

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