North Korean launches 35 incidences of Cyber attacks on investigation

UN experts snooping 35 Cyber attacks by North Korea in 17 countries

United Nation –UN states that they are investigating 35 incidents in which North Korea launched Cyber attacks against 17 different countries. It seems that the North Korean tried to raise money for weapons and mass destruction programs.

Last week, Associated Press summarized the experts report and wrote that the North Korea acquired total sum of $2 billion through the Cyber attacks.

“The report to the Security Council gives details on some of the North Korean cyberattacks as well as the country’s successful efforts to evade sanctions on coal exports in addition to imports of refined petroleum products and luxury items including Mercedes Benz S-600 cars”, — points out Associated Press.

The most targeted were the financial institution and cryptocurrency exchanges.

“South Korea’s Bithumb, one of the largest cryptocurrency exchanges in the world, was reportedly attacked at least four times”, — reported in UN report.

Most of the attacks went to the neighbor South Korea -10 times. India is 2nd in this list having 3 total attacks. The second position is shared between the two countries namely Bangladesh and Chile with 2 attacks. Other 13 countries include Costa Rica, Gambia, Guatemala, Kuwait, Liberia, Malaysia, Malta, Nigeria, Poland, Slovenia, South Africa, Vietnam and Tunisia.

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According to the analyses, the experts cite three main ways through which the North Korean Cyber hackers operate:

  • Attacks through SWIFT or Society for Worldwide Interbank Financial Telecommunication used to transfer money between banks
  • Theft of Cryptocurrency
  • Cryptocurrency mining as a source of funds for a professional branch of the military

The report also states that an unnamed country stolen funds following in a Cryptocurrency attack in 2018 were transferred through 5000 separate transactions and rerouted to multiple countries before the conversion to the Cryptocurrency that the government declared it legal money. Thus, it is very difficult to track the funds. Further, the researchers also cited that the Cyber attacks pose almost no risk to attackers and they need is a laptop and internet connection to bring the great profits.