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UN investigating cyber-attacks from North Korea thought to acquire money for its nuclear program

 

The United Nations Organization is investigating 35-or-more instances of cyber-attacks launched inside 17 countries from North Korean hackers with the objective of raising money unlawfully to finance the country's nuclear program. UN has slapped sanctions on ships that bring in diesel and petrol to North Korea.

 

During the past week, the Associated Press published a UN experts' report that stated about North Korea unlawfully collecting a huge USD2bn through its enormously advanced cyber operations targeting crypto-currency exchanges and financial institutions.

 

According to the report, South Korea in the neighborhood was most affected receiving ten cyber assaults. Other countries followed with India receiving 3, Chile 2 and Bangladesh 2. Some more countries received one assault each namely Guatemala, Gambia, Costa Rica, Malaysia, Liberia, Kuwait, Poland, Nigeria, Malta, South Korea, Slovenia, Vietnam and Tunisia.

 

Furthermore, the cyber hackers from North Korea operate in three chief methods. One is waging assaults via the SWIFT system i.e. Society for Worldwide Interbank Financial Telecommunication mechanism employed for money transfers from bank-to-bank where the hackers access the computers of bank employees for distributing fake messages followed with erasing any clues left.

 

The second method is stealing crypto-currency via assaults against both consumers and crypto-currency exchanges. The third method is garnering crypto-currency to finance some professional division belonging to the military. www.tribuneindia.com posted this, August 13, 2019.

 

The experts referring to one particular country say that in 2018 a crypto-currency attack against that country resulted in theft of funds that were moved to other destinations via 5,000-and-more individual transactions to several nations followed with ultimate conversion into money that certain government pronounced as white, thus causing immense problem in tracing the fund.

 

Meanwhile, a globally biggest crypto-currency exchange Bithumb of South Korea reportedly encountered assaults 4-or-more times resulting in millions of dollars in losses each time such as during February and July of 2017, the losses were about USD7m each; then during June 2018, it amounted to USD31m; and during March 2019, the loss incurred was USD20m. Further, instances have been investigated of 'cryptojacking' a process of using malware for infecting a PC for illegitimate utilization of its resources and mining digital coins.

 

» SPAMfighter News - 22-08-2019

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