Threat Watch

North Korea has Stolen Over Two Billion Dollars Through Hacking to Continue Carrying out Test Launches

North Korea: New reports coming out of the UN have shown that over the past few years, North Korea has managed to steal over two billion dollars by hacking. The attacks were pointed at cryptocurrency exchanges and financial institutions. The country has also been known to launder their stolen money through various ways by utilizing cyberspace. These cyber efforts were carried out by North Korea as a way to generate income for the country after sanctions left them choked off. Yesterday, North Korea carried out more launches, marking the fourth launch of a missile or rocket since 24 July. North Korea propaganda media reports that Kim Jong Un is doing these tests as a warning to the US and South Korea for carrying out joint military exercises.

ANALYST NOTES

Continued testing will cause North Korea to need and continue to generate income for themselves, meaning that these two billion dollars that have been stolen are not the end of the theft. Cyber-attacks from North Korea could possibly pick up, as tests continue to be carried out more frequently.