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N Korea at crossroads

North Korea stole cryptocurrency via hacking: UN panel

Online theft and blockchain help regime to evade sanctions

A U.N. panel of experts called on member states to share more information on cyberattacks originating in North Korea. (Nikkei montage/Reuters)   © Reuters

UNITED NATIONS -- North Korea has used cyberattacks and blockchain technology to circumvent economic sanctions and obtain foreign currency, according to a panel of experts reporting to the U.N. Security Council.

Pyongyang has amassed around $670 million in foreign and virtual currency through cyberthefts, using blockchain technology to cover its tracks, the panel told the Security Council's North Korea sanctions committee in its annual report, Nikkei has learned.

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