North Korea has taken billions in cryptocurrency and salaries from tech companies, according to a report.

North Korean Cyber Activities Unveiled

WASHINGTON — An international report reveals that North Korean hackers have infiltrated virtual currency exchanges, created fake identities to land remote tech jobs abroad, and, in total, stolen billions of dollars.

The comprehensive 138-page report indicates that North Korean officials executed a covert scheme aimed at financing nuclear weapons research and development. The findings were shared by the Multilateral Sanctions Monitoring Team, comprising the United States and ten other allies, which was set up last year to oversee North Korea’s adherence to UN sanctions.

According to the report, the regime also utilizes cryptocurrencies for laundering money and making military purchases, all in an effort to sidestep international sanctions associated with its nuclear ambitions. The article outlines how hackers, representing North Korea, target foreign businesses and organizations using malware designed to disrupt networks and pilfer sensitive information.

Interestingly, despite its relatively small size and isolation, North Korea has poured considerable resources into offensive cyber capabilities, now rivaling the likes of China and Russia in terms of hacking skill and effectiveness. This poses a notable threat to governments, corporations, and individuals worldwide, the panel concluded.

In contrast to countries like China, Russia, and Iran, North Korea centers much of its cyber endeavors on funding its government. They employ cyber attacks and use disguised operatives to siphon funds from businesses and organizations globally.

The report cited that with assistance from allies in Russia and China, North Korea’s cyber activities are linked to the physical destruction of computer equipment, risks to human safety, loss of civilian property, and the financing of illicit weapons development and missile programs.

The monitoring group includes the United States, Australia, Canada, France, Germany, Italy, Japan, the Netherlands, New Zealand, South Korea, and the United Kingdom. It was established after Russia vetoed a UN resolution aimed at directing a Security Council panel of experts to monitor North Korea’s actions. The group’s initial report, issued in May, scrutinized North Korea’s military support to Russia.

Earlier this year, hackers connected to North Korea executed the most substantial cryptocurrency theft on record, stealing $1.5 billion in Ethereum from Bybit. The FBI subsequently linked the crime to a group of hackers associated with North Korean intelligence.

Federal officials also assert that thousands of IT professionals employed by U.S. companies are, in fact, North Koreans working remotely under false identities. These workers gained access to internal systems and funneled their earnings back to the North Korean government, with some holding multiple remote jobs simultaneously.