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According to a White House official, approximately half of North Korea's missile program has been financed through cyberattacks and cryptocurrency theft.
Anne Neuberger, the deputy national security adviser for cyber and emerging technology, mentioned during an event hosted by the nonprofit Special Competitive Studies Project that the US federal government is actively engaged in comprehending how a nation like North Korea exhibits such creativity in this realm.
Neuberger stated that US intelligence agencies are collaborating to identify North Korean operatives while the Treasury is tracking stolen cryptocurrency. The prevalence of hacking and cybercrime seems to be crucial for the survival of the North Korean regime.
The Biden administration is devoting significant time and effort to addressing this issue. These comments from Neuberger come amidst growing international concerns over Pyongyang’s missile and nuclear weapons program. CNN previously reported that North Korea’s recent testing of an intercontinental ballistic missile could enable quicker launches of long-range nuclear strikes.
Last month, the Justice Department charged a North Korean individual with an intricate money laundering scheme involving US cryptocurrency company employees to support the North Korean regime.
In a public event last July, Neuberger stated that the North Koreans were estimated to acquire up to one-third of their funds for their missile program through cyber means. A spokesperson for Neuberger confirmed the accuracy of the updated figure she cited this week, implying that the issue has likely gained even greater significance in recent months.
Reports from the United Nations and private firms indicate that North Korean hackers have pilfered billions of dollars from banks and cryptocurrency firms, providing a crucial revenue stream for the regime.
Although US officials have long suspected that some of this money has been allocated to Pyongyang’s weapons development, they rarely disclose specific details about the issue.
A recent investigation by CNN revealed the extensive efforts of North Korean hackers to steal cryptocurrency and convert it into cash, potentially aiding the funding of dictator Kim Jong Un’s weapons programs. A cryptocurrency entrepreneur was also identified who unwittingly sent tens of thousands of dollars to a North Korean IT worker.
North Korean cyber activities are regularly included in intelligence briefings for senior US officials, including President Joe Biden.