North Korea Denies Stealing $2 Billion Using Crypto Hacks To Fund Its Nuclear Schemes

North-Korea-Crypto-Hacks

As we’ve previously reported at Top10BitcoinRobots, the cryptocurrency world is taking some serious heat. The latest concerning a hack.

North Korea is in denial about the accusations of stealing $2 billion with the help of crypto hackers to hack into cryptocurrency exchanges and banks.

In a counter attempt, North Korea accused the US of spreading rumors. All this in the midst of raging arguments and speculations of what stance shall the US take toward cryptocurrencies as a whole.

The KCNA, the Korean Central News Agency, official state media, denied allegations of immense theft of crypto funds by North Korean agents on 1st September.

The United Nations sanctions committee, as reported previously by Cointelegraph, stated that the cyber actors of North Korea were raising money for the country’s weapons of mass destruction military programs, total proceeds of which stand to 2 billion dollars.

The Korea Central News Agency then cited a statement in response to state that the US and similar opponent nations have now started to spread defaming rumors.

The declaration said that such rumors are a way of the opposing nations to target the image of the North Korean Republic and to justify the sanctions against the DPRK.

This skirmish, however, doesn’t seem capable of dissuading people from trading cryptos on exchanges or systems like Bitcoin Loophole.

North Korean Cyber Attacks Cause South Korea To Suffer The Most

As reported previously by Cointelegraph, investigations of 35 claimed cyber attacks from North Korea on 17 countries was undertaken by the UN. 10 of these attacks targeted South Korea directly whereas India became a victim of 3 such attacks.

Experts from the UN say that these North Korean cyber hacks on crypto exchanges and banks have enabled the country to generate undeserved revenue by sources and ways that are more difficult to trace and not as subjected to government oversight and regulation as the traditional banking sector.

The country has been carrying out serious hacks to keep out of economic sanctions imposed on its military programs.

According to research done by The Block, the total amount stolen by North Korea from crypto exchanges stands at a whopping $1.30 billion.