The terrifying reality that North Korea secures funds for its weapons development program through virtual currency theft through cyber attacks
As North Korea continues to develop nuclear weapons and missiles, severe economic sanctions have been imposed by the international community as a countermeasure. Still, hacking groups are stealing virtual currency in North Korea in order to develop weapons. The US government suspects that North Korean hackers are providing funds to the cash-strapped government through hacking.
To stem North Korea's missiles program, White House looks to its hackers - POLITICO
North Korea, which is under increasing economic sanctions from various countries, has conducted about 100 ballistic missile tests in 2022 and
US authorities believe that ``cryptocurrency hacking'' is a factor that allows North Korea to take military action even under economic sanctions. The US government has announced various sanctions against North Korean hacking groups, their front companies, and malicious IT workers in 2022. We are also taking countermeasures such as blacklisting several virtual currency services used to launder stolen funds.
Anne Neuberger, cybersecurity official at the National Security Council (NSC), said, ``In countering North Korean cyberattacks, our top priority is to focus on crypto theft from North Korea.'' 'It's about directing.'
The crypto industry, dominated by startups, is poorly regulated and lax in security, making it an easy target for North Korean hackers. In addition, it is said that virtual currencies with built-in privacy features will be able to send virtual currency while avoiding sanctions, and will be able to bring a large amount of virtual currency to North Korea.
A 2022 survey by Chainalysis, a cryptocurrency tracking company,
'North Korean hackers are directly funding North Korea's weapons of mass destruction and ballistic missile programs,' said U.S. State Department Spokesperson Vedant Patel. Neuberger estimates that ``about half of the cost of North Korea's missile program may be covered by cyber attacks and cryptographic theft.''
Private sector researchers say North Korean hackers are using a combination of traditional espionage techniques and modern cyberattack techniques to catch Western companies off guard. Furthermore, he pointed out that it is dangerous to label North Korean hackers simply as ``cryptocurrency stealers.''
Tom Hagel, a threat researcher at cybersecurity firm SentinelOne, said, ``A number of companies are speculating that North Korean hackers are targeting cryptocurrencies, but North Korea could use hacking techniques if it wanted to.'' It is believed that this attack could be used to cause significant damage to the international community.'
When asked about ``concerns that North Korean hackers will improve their hacking skills and move toward destructive activities,'' Neuberger said, ``North Korean hackers are talented, creative, and extremely aggressive.'' , expressed concern about sabotage.
The US government believes that cutting off the profitability of hacking necessary for North Korea to continue its national weapons development program is the best way to prevent hacking damage. 'Our goal is to radically reduce the profitability of North Korean hacking,' Neuberger said.
On the other hand, North Korean hackers are trying to avoid strict checks and sanctions by the international community by changing their hacking techniques. Erin Plante, vice president of research at Chainalysis, points out, ``North Korean hackers are constantly evolving and thinking outside the box, which is a bit worrying.''
'North Korean hacking groups are conducting cyberattacks that combine cybercrime with traditional espionage and money laundering,' said Michael Barnhart, a North Korea expert at cybersecurity firm Mandiant. A hacking group is like a well-organized criminal family.'
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