According to a United Nations Security Council investigation, half of North Korea’s foreign currency earnings come from cyberattacks on cryptocurrency exchanges. The losses amounting to about 3 billion dollars indicate that the country relies heavily on cybercrime.
From July 2023 to January 2024, researchers looked into how North Korea bypasses international sanctions and discovered its sophisticated techniques for avoiding global restrictions. A report like this one may not be legally binding but it can be a basis for imposing new restrictions on violators.
Almost forty percent (40%) of the money used by the government for weapons of mass destruction is obtained through online crimes. The survey points out that more hacks against defence sector firms are occurring and North Korean hackers seem to share resources more openly with each other than before. Additionally, there are assertions that Hamas employs DPRK arms including missiles and anti-tank weaponry; these have been refuted by Pyongyang.
North Korea Still Fires Missiles While Breaking Sanctions
Within six months preceding January 2024, about seven ballistic missiles were launched by North Korea. Japan raised concerns among global communities after reporting another “tactical nuclear attack submarine” originating from North Korea.
In spite of worldwide economic sanctions aimed at stopping its atomic activities, Pyongyang has engaged in illicit transactions. It imported refined petrol products and exported luxury goods throughout 2023 thereby increasing its trade levels beyond previous years’ records.
The report also highlights that even as North Korea seeks alternative ways to bankroll its armament programs it poses challenges towards curbing their nuclear ambitions. However, as part of what results from cyber heists, there is an international community that is still on high alert with regard to North Korea’s military capabilities being enhanced.
