North Korea stole cryptocurrency via hacking: UN panel

Online theft and blockchain help regime to evade sanctions

20190308 kim and binary codes

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

KAORI YOSHIDA, Nikkei staff writer

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.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.