How North Korean Hackers Stole 3,00,00,00,000 USD In 7 Years To Fund Nuclear Programme

Seoul: North Korean hackers have stolen an estimated $3 billion worth of cryptocurrency since 2017, and allegedly used the funds to support the regime's nuclear and missile programmes, according to a Microsoft report. The 'Digital Defence Report 2024', which surfaced on Thursday, showed that $600 million to $1 billion were stolen just last year. The report revealed that the stolen funds were used to finance over half of Pyongyang's nuclear development, as per Yonhap News. Microsoft, last year identified several new North Korean hacking groups - Moonstone Sleet, Jade Sleet, Sapphire Sleet and Citrine Sleet. These groups have been targeting cryptocurrency organisations. As per the report, Moonstone Sleet has developed a custom ransomware variant targeting the aerospace and defence sectors, focusing on both intelligence gathering and financial extortion.

According to Microsoft analysts, the emergence of such groups indicates North Korea's increasing involvement in ransomware operations, using cybercriminal tools to enhance its financial resources and support its strategic goals.Microsoft's vice president of customer security and trust, Tom Burt highlighted the growing aggression of nation-states in the cyber domain. He stated that their increasing technical sophistication points to higher investments in training and resources.

Microsoft also warned of escalating cyber threats from state-backed actors, particularly from Russia, China, and Iran, as the U.S. presidential election approaches and geopolitical conflicts in Europe and the Middle East persist.In response, South Korea, the U.S., and Japan have agreed to strengthen their joint efforts to combat North Korea’s cyber activities, which are increasingly targeting the virtual currency industry. The three nations highlighted the need to collaborate with the private sector, especially cryptocurrency service providers, to heighten awareness of Pyongyang's cyber threats.