North Korea Stole 2 Billion in Crypto and fiat for weapons

According to a confidential U.N. report, North Korea is funding its weapon of mass destruction with cryptocurrency and fiat currency stolen from banks and exchanges. 

Seen by Reuters, the report – researched by “independent experts” and presented to the U.N. Security Council North Korea sanctions committee last week – says that North Korea has used “widespread and increasingly sophisticated” hacks to collect roughly $2 billion, which is laundered over the web.

The North Korean mission did not comment when the United Nations asked about the report.

The U.N. report said targeting crypto exchanges allowed North Korea “to generate income in ways that are harder to trace and subject to less government oversight and regulation than the traditional banking sector.”