The Multilateral Sanctions Monitoring Team found that North Korea’s sophisticated cyber force had stolen at least US$1.65 billion from January to September, including US$1.4 billion from the crypto exchange Bybit in February.
That was in addition to North Korea’s ill-gotten cryptocurrency gains of US$1.2 billion in 2024, the monitoring group said in a report on Wednesday.
Pyongyang funnelled the funds into “the unlawful development of its WMD [weapons of mass destruction] and ballistic missile programmes”, it said.
The report’s authors found that North Korean officials used a type of cryptocurrency called stablecoin “for procurement-related transactions, including the sale and transfer of military equipment and raw materials such as copper, which is used in munitions production”.
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