North Korea stole most cryptocurrency in 2022: Report

North Korea has been sanctioned by the United States and United Nations for its nuclear weapons programme. However there have been hardly any efforts to engage the country and ensure disarmament

New Delhi, Feb 07: In the year 2022, North Korea stole more cryptocurrency than any other year, news agency Reuters said while citing a United Nations report.

The report also said that the document which is currently confidential also said that North Korea had targeted networks of foreign aerospace and defence companies.

The independent sanctions monitors reported to a UN Security Council Committee that,"North Korea used increasingly sophisticated cyber techniques to gain access to digital networks involved in cuber finance, and to steal information of potential value, including to its weapons programme."

While North Korea has denied allegations of hacking or other cyberattacks, the report said that a higher value of cryptocurrency assets were stolen by DPRK actors in 2022 than in any previous year.

The report further said that South Korea estimated that North Korea-linked hackers stoke virtual assets worth $630 million in 2022.

The UN report added, "the variation in USD value of cryptocurrency in recent months is likely to have affected these estimated. But both show that 2022 was a record-breaking year for DPRK (North Korea) virtual asset theft."

The techniques used by cyberthreat actors have become sophisticated, hence making tracking stolen funds more difficult the report said.

The report while detailing how North Korea indulged in cyberattacks said that most of them were carried out by groups controlled by North Korea's primary intelligence bureau-the Reconnaissance General Bureau, which included hacking teams racked by the cybersecurity industry under the names Lazarus Group, Andariel and Kimsuky.

"These actors continued illicitly to target victims to generate revenue and solicit information of value to the DPRK including its weapons programmes. Initial contacts with individuals were made via LinkedIn, and once a level of trust with the targets was established, malicious payloads were delivered through continued communications on WhatsApp," the report also said.

North Korea and cryptocurrency:

North Korea, according to reports has been developing its own cryptocurrency for several years now. It is believed that the cryptocurrencies are being developed to bypass international sanctions and obtain a new source of funding. It is also said that North Korea is exploring cryptocurrency as a way of evading detection and launder money.

North Korea has been subject to international sanctions for its nuclear weapons programme and illicit activities. Individual countries such as the United States and the United Nations have imposed sanctions on Pyongyang. The sanctions aim at restricting North Korea's access to financial resources, technology and supplies that it could use for its weapons programme.

Despite the sanctions, North Korea has continued with its nuclear weapons programme. Moreover there have been very limited efforts to engage the country in negotiations over its diaramement.