U.N. says North Korea funds weapons programs with crypto theft
A U.N. report says North Korea has been using money from cryptocurrency hacks to fund its military and nuclear projects.
Groups like TraderTraitor, linked to the infamous Lazarus Group, are suspected of stealing billions (including a huge $6.3 billion hit on Binance) as part of the country's strategy to get around economic isolation.
TraderTraitor blamed for Bybit $1.5B hack
Since 2017, North Korean hackers have stolen about $3 billion in cryptocurrency, making it a major source of income for the country.
They have shifted from targeting banks to focusing on cryptocurrency exchanges because they are easier targets.
The TraderTraitor group is also blamed for a $1.5 billion hack on Bybit in 2025, with the stolen billions estimated to fund 40% of North Korea's weapons of mass destruction programs.
Meanwhile, despite all this cyber activity, 40% of the population are undernourished and nearly one in five of its children are stunted, according to U.N. data.