North Korean $200 Mln Crypto Hacks Could Be Funding Missile Program

North Korea’s hacking and ransomware attacks could have added over $200 mln to their missile project

Tue, 6/03/2018 - 11:50

North Korean $200 Mln Crypto Hacks Could Be Funding Missile Program

Cover image via U.Today

It has been estimated that North Korea has managed to reap as much as $200 mln in cryptocurrency from hacking and ransomware attacks which could be funding its widely-condemned missile program.

Former US National Security Agency Officer Priscilla Moriuchi has said that the ransomware attacks and cryptocurrency haul was being used to fund the missile program on Radio Free Asia.

"I would bet that these coins are being turned into something, currency or physical goods, that are supporting North Korea’s nuclear and ballistic missile program," said Moriuchi.

Moriuchi believes North Korea's hacking techniques could have reaped as many as 11,000 Bitcoins.

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About the author

Darryn Pollock

Darryn Pollock is an award winning journalist from Durban, South Africa. He picked up Vodacom’s Regional Sports Journalist Award in 2017 while expanding his Blockchain and cryptocurrency reach. He is a contributor to Forbes, Cointelegraph, Binary District, and of course, U.Today. Darryn’s belief is that Blockchain technology will be the driving force of the next technological wave and it is the obligation of journalists and writers to tell its emerging story with integrity and pride.