North Korea is employing hackers to steal cryptocurrency so it can fund its nuclear program, the Wall Street Journal reports. North Korea has long been using criminals to fund its regime, whether from smuggling operations or counterfeit dollars. While it has been using cyberattacks for at least a decade, its foray into crypto has reached new heights.
Just in 2022, North Korea has stolen more than $1.5 in cryptocurrency theft. It hires Western frontmen to work for crypto firms, then instructs them to tamper with code to create vulnerabilities. While not wholly untraceable, cryptocurrency can be converted in any currency in a much faster way.
Other than cryptocurrency theft, North Korea has been conducting cybercrime in the form of ransomware. North Korean hackers gain access to networks of hospitals or businesses, locking the data in exchange for payment. North Korea had previously conducted a high visibility cyberattack in 2014 on Sony Pictures, who released the comedy poking fun at the North Korean dictator.
North Korea’s focus on theft rather than traditional espionage has led a former FBI employee to describe North Korea as a modern “pirate state.” North Korean hackers have been described as some of the best by US officials, as they display advanced social engineering techniques. North Korea’s isolation and sanctions have further removed any inhibitions that larger nations such as the United States and China still have to account for.
North Korea has recently renewed close ties to Russia, selling surplus equipment and munitions to fuel the war in Ukraine. It remains to be seen if the United States will be able to not only limit North Korea’s nuclear program but also put a stop on its criminal activities.
