Bitcoinist: North Korea uses stolen crypto to fund its nuclear weapons program

In recent months, North Korea has stolen over $300 million worth of Bitcoin and other cryptocurrencies via hacking and other sorts of mass cyberattacks.

The objective is to fund the isolated state’s illegal nuclear and ballistic missile activities, according to a report by France24, quoting a confidential United Nations dossier.

Today, that reported is corroborated by international investigators comprised of U.S. and South Korean intelligence officials, who claim that North Korea “stole hundreds of millions of dollars worth of crypto assets” to bolster its nuclear weapons arsenal, Bitcoinist reports.

In the past 10 days, North Korea’s ballistic missile launches have intensified. On Wednesday of last week, more than 5 million Japanese citizens were ordered to take urgent cover when the North launched a missile over the island of Hokkaido.

Military analysts suspect that at least a portion of this missile launch was also paid for using stolen cryptocurrency.

The North is believed to employ thousands of well-trained hackers who have assaulted South Korean businesses, organizations, and researchers. Additionally, it has been accused of using its cyber capabilities for economic reward.

According to Yonhap, a major South Korean news source, the UN Security Council’s North Korea Sanctions Panel has attributed the Harmony and Ronin Bridge attacks to North Korean cyber organizations such as the Lazarus Group.

The committee said that Pyongyang’s General Bureau of Reconnaissance directly authorized the hacks.

According to experts, North Korea is using the absence of worldwide regulatory constraints on cryptocurrencies to steal Bitcoins and other cryptos in order to fund its nuclear weapons and missile projects.

Jason Bartlett, a researcher at the Center for a New American Security (CNAS), stated the following in an interview with the VOA Korean Service that "cryptocurrency offers Pyongyang a new kind of currency that is substantially less regulated and understood by national governments, financial institutions, and international organizations.”

The committee said that such breaches are so lucrative that cybercrime organizations like BlueNoroff are now focusing only on crypto theft to generate revenue.

Western nations have accused BlueNoroff of assaulting Bangladesh’s national bank in 2016. Meanwhile, Nikkei Asia reported, citing a UN Security Council panel study, that the hermit state is in the penultimate stages of preparations for a nuclear weapons test, with actions pointing to the excavation of an underground tunnel and testing of triggering mechanisms.